Translate Bio, Inc. (TBIO) Got Crushed -6.26% Today. Here’s Why

Translate Bio, Inc. (NASDAQ:TBIO) is a stock to watch today. At current price of $9.89, the shares have already lost -0.66 points (-6.26% lower) from its previous close of $10.55. The stock sets an active trading volume day with a reported 111396 contracts so far this session. TBIO shares had a relatively better volume day versus average trading capacity of 228.78 thousand shares, but with a 31.72 million float and a 13.81% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TBIO stock indicates that the average analyst price target is $21.5 per share. This means the stock has a potential increase of 117.39% from where the TBIO share price has been trading recently which is between $10.39 and $11.005. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $18.

The shorts are running away from Translate Bio, Inc. (TBIO) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in TBIO shares. While short interest still represents only 5.31% of TBIO’s float, the number of shares shorted have fallen by -19505. The number of shares shorted fell to 1664965 shares, down from 1684470 shares during the preceding fortnight. With average daily trading volumes at 196261 shares, days to cover increased to about 8.071444 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Translate Bio Announces First Quarter 2019 Financial Results and Provides Corporate Update” and dated May 09, 2019.

Looking at the current readings for Translate Bio, Inc., the two-week RSI stands at 50.28. This figure suggests that TBIO stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current TBIO readings is similarly very revealing as it has a stochastic reading of 72.18% at this stage. This figure means that TBIO share price today is being oversold.

Technical chart claims that Translate Bio, Inc. (TBIO) would settle between $10.91/share to $11.26/share level. However, if the stock price goes below the $10.29 mark, then the market for Translate Bio, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $10.03 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.54. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at H.C. Wainwright, assumed coverage of TBIO assigning Buy rating, according to their opinion released on December 24. Leerink Partners, analysts launched coverage of Translate Bio, Inc. (NASDAQ:TBIO) stock with a Outperform recommendation, according to their flash note issued to investors on July 23. Analysts at Evercore ISI, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to July 23.

TBIO equity has an average rating of 1.5, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated Translate Bio, Inc. (NASDAQ:TBIO) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.