The stock of Translate Bio, Inc. (NASDAQ:TBIO) is now priced at $13.87 and the shares are -0.22 points down or -1.56% lower compared to its previous closing price of $14.09. The stock had 1.171 million contracts set over the past session. TBIO shares’ daily volume is compared to its average trading volume at 1.998 million shares. However, it has a float of 47.2 million and although its performance was -10.89% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the TBIO share price recently placing at $13.51 to $14.24. However, some brokerage firms have priced the stock below the average, including one that has called $25.
The shorts are climbing into the Translate Bio, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the TBIO shares have risen. Short interest in the stock represents just 10.82% of its float, but the volume has raised by 14776. The volume of shorted shares rised to 5.107 million from 5.092 million shares over the last two weeks. The average intraday trading volume has been 1.063 million shares, which means that days to cover moved to roughly 4.805311.
In the last trading session, Translate Bio, Inc. (NASDAQ:TBIO) dropped by -$1.69 over the week and lost -$1.32 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $28.09. The stock recorded its established 52-week high on 06/24/20.
Since 03/09/20, the stock has traded to a low of $6.8 at 103.97%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Translate Bio, Inc.’s two-week RSI is 36.63. This suggests that the stock is neutral at the moment and that TBIO shares’ price movement remains stable. The stochastic readings are equally revealing at 15.91% meaning the TBIO share price is currently in overbought territory.
The technical chart shows that the TBIO stock will likely settle at between $14.24 and $14.6 per share. However, if the stock dips below $13.51, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $13.14.
Currently, the stock is trading in the red of MACD, with a reading of -0.75. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at H.C. Wainwright though raised target price of TBIO stock from $18 to $32 but maintained Buy recommendation in their July 07 review. William Blair analysts see the stock as a Outperform in a flash note released to investors on July 06 initiating covering the stock. SunTrust analysts see the stock as Buy when the analysts initiated the share price coverage on June 26, placing it at $40.
The average rating for the TBIO equity is 1.5 and is currently gathering a bullish momentum. Of 8 analysts tracking Translate Bio, Inc. polled by Reuters, 0 rated TBIO as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (8) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Translate Bio, Inc. (NASDAQ:TBIO) will decrease by about -99.64%, which will see them reach $58.97 million. The company’s full-year revenues are, however, expected to increase by about 1056.54%, up from $7.8 million to $90.21 million. TBIO’s expected adjusted earnings should drop almost -168.29% to end up at $0.28 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -64.09% to record -$0.79/share.