Generation Bio (NASDAQ:GBIO) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Generation Bio (NASDAQ:GBIO) in a research report released on Friday,Benzinga reports. The firm currently has a $8.00 target price on the stock.

Generation Bio Price Performance

NASDAQ GBIO opened at $0.48 on Friday. Generation Bio has a fifty-two week low of $0.47 and a fifty-two week high of $4.65. The stock’s 50-day moving average is $0.74 and its two-hundred day moving average is $1.53. The firm has a market cap of $32.06 million, a P/E ratio of -0.22 and a beta of 2.72.

Generation Bio (NASDAQ:GBIO) last issued its quarterly earnings data on Wednesday, March 19th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). Generation Bio had a negative net margin of 782.86% and a negative return on equity of 104.85%. On average, equities analysts expect that Generation Bio will post -1.75 EPS for the current year.

Insider Buying and Selling

In other news, Director Anthony G. Quinn bought 125,791 shares of the business’s stock in a transaction on Friday, January 10th. The stock was purchased at an average price of $0.96 per share, with a total value of $120,759.36. Following the transaction, the director now directly owns 214,286 shares in the company, valued at approximately $205,714.56. The trade was a 142.14 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 21.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Generation Bio

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted its stake in Generation Bio by 0.3% during the 3rd quarter. FMR LLC now owns 5,320,266 shares of the company’s stock valued at $13,141,000 after purchasing an additional 15,656 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Generation Bio during the fourth quarter worth approximately $2,398,000. Baker BROS. Advisors LP boosted its position in shares of Generation Bio by 61.1% in the third quarter. Baker BROS. Advisors LP now owns 1,944,945 shares of the company’s stock valued at $4,804,000 after acquiring an additional 737,988 shares during the period. State Street Corp grew its stake in shares of Generation Bio by 1.2% in the third quarter. State Street Corp now owns 992,188 shares of the company’s stock worth $2,451,000 after acquiring an additional 11,669 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Generation Bio by 62.0% during the fourth quarter. Renaissance Technologies LLC now owns 962,959 shares of the company’s stock worth $1,021,000 after acquiring an additional 368,659 shares during the period. 95.22% of the stock is owned by institutional investors and hedge funds.

Generation Bio Company Profile

Generation Bio Co develops non-viral genetic medicines for the treatment of rare and prevalent diseases. The company develops cell-targeted lipid nanoparticle (ctLNP) platform, a modular delivery system for nucleic acids to avoid off-target clearance by the liver and spleen that enables ctLNPs to persist in systemic circulation, which allows for highly selective and potent ligand-driven targeting to specific tissues and cell types; and novel immune-quiet DNA (iqDNA) to enable long-lasting high levels of gene expression from non-integrating episomes and avoids innate immune sensors that have long prevented DNA from use in non-viral systems.