market folly

Seth Klarman's investment firm Baupost Group has filed a 13G with the SEC regarding its position in Translate Bio (TBIO).  Per the filing, Baupost now owns 24.06% of the company with over 12.27 million shares as of August 31st.  This is up from the 8.84 million shares they disclosed as of the end of June.

Per Yahoo Finance, Translate Bio is "a clinical-stage messenger RNA (mRNA) therapeutics company, develops medicines to treat diseases caused by protein or gene dysfunction. The company is developing MRT5005, which is in Phase I/II clinical trial for the treatment of cystic fibrosis; and MRT5201 to treat ornithine transcarbamylase deficiency. It has a collaboration and license agreement with Sanofi Pasteur Inc. to develop mRNA vaccines for up to five infectious disease pathogens. The company was formerly known as RaNA Therapeutics, Inc. and changed its name to Translate Bio, Inc. in June 2017. Translate Bio, Inc. was founded in 2011 and is headquartered in Lexington, Massachusetts."