Generation Bio (NASDAQ:GBIO) Shares Down 0.4%

Shares of Generation Bio Co. (NASDAQ:GBIO) were down 0.4% during mid-day trading on Thursday . The company traded as low as $2.28 and last traded at $2.32. Approximately 41,321 shares were traded during trading, a decline of 79% from the average daily volume of 199,773 shares. The stock had previously closed at $2.33.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of Generation Bio in a research report on Thursday, August 8th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Generation Bio in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.50.

Generation Bio Stock Performance

The business’s 50 day moving average is $2.67 and its 200-day moving average is $2.98. The firm has a market capitalization of $145.03 million, a price-to-earnings ratio of -0.85 and a beta of 2.81.

Generation Bio (NASDAQ:GBIO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). Generation Bio had a negative net margin of 1,202.56% and a negative return on equity of 92.86%. The company had revenue of $4.09 million during the quarter, compared to the consensus estimate of $3.23 million. Equities research analysts forecast that Generation Bio Co. will post -1.8 EPS for the current fiscal year.

Institutional Trading of Generation Bio

A number of institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Generation Bio by 28.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,878,361 shares of the company’s stock worth $36,136,000 after purchasing an additional 1,952,187 shares in the last quarter. Baker BROS. Advisors LP bought a new position in shares of Generation Bio during the 1st quarter worth approximately $1,511,000. Acadian Asset Management LLC boosted its stake in Generation Bio by 113.9% in the 1st quarter. Acadian Asset Management LLC now owns 479,835 shares of the company’s stock valued at $1,952,000 after buying an additional 255,468 shares in the last quarter. Bellevue Group AG grew its position in Generation Bio by 6.8% in the first quarter. Bellevue Group AG now owns 3,861,575 shares of the company’s stock valued at $15,717,000 after acquiring an additional 244,495 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in Generation Bio by 315.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 275,834 shares of the company’s stock valued at $455,000 after acquiring an additional 209,462 shares during the period. 95.22% of the stock is currently owned by institutional investors.

About Generation Bio

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.