Wedbush Reaffirms Outperform Rating for Generation Bio (NASDAQ:GBIO)

Wedbush reiterated their outperform rating on shares of Generation Bio (NASDAQ:GBIO) in a research report report published on Thursday morning,RTT News reports. The firm currently has a $5.00 price objective on the stock.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of Generation Bio in a report on Wednesday, October 23rd.

Generation Bio Trading Down 5.0 %

GBIO stock traded down $0.12 during trading on Thursday, reaching $2.26. The stock had a trading volume of 185,843 shares, compared to its average volume of 106,150. The firm has a fifty day moving average price of $2.40 and a 200 day moving average price of $2.73. The company has a market capitalization of $150.83 million, a P/E ratio of -1.03 and a beta of 2.82. Generation Bio has a 1-year low of $1.02 and a 1-year high of $4.65.

Generation Bio (NASDAQ:GBIO) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.04). Generation Bio had a negative return on equity of 96.87% and a negative net margin of 782.86%. The business had revenue of $4.09 million during the quarter, compared to analyst estimates of $3.23 million. Sell-side analysts predict that Generation Bio will post -1.8 EPS for the current year.

Institutional Investors Weigh In On Generation Bio

Institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Generation Bio during the first quarter worth $74,000. PFG Advisors bought a new position in Generation Bio in the first quarter worth about $41,000. Vanguard Group Inc. boosted its stake in Generation Bio by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,570,456 shares of the company’s stock valued at $10,462,000 after acquiring an additional 18,205 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Generation Bio by 113.9% during the first quarter. Acadian Asset Management LLC now owns 479,835 shares of the company’s stock valued at $1,952,000 after purchasing an additional 255,468 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Generation Bio by 28.2% during the 1st 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 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.