Generation Bio’s (GBIO) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Generation Bio (NASDAQ:GBIO) in a research report released on Thursday, Benzinga reports. The brokerage currently has a $10.00 price objective on the stock.

Separately, Wedbush restated an outperform rating and set a $5.00 price target on shares of Generation Bio in a research note on Tuesday, May 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $8.00.

Generation Bio Trading Down 2.1 %

GBIO stock traded down $0.05 during trading on Thursday, reaching $2.35. 101,580 shares of the stock were exchanged, compared to its average volume of 212,220. The stock has a 50 day simple moving average of $2.85 and a 200-day simple moving average of $2.89. The company has a market capitalization of $156.34 million, a P/E ratio of -0.92 and a beta of 2.83. Generation Bio has a twelve month low of $0.86 and a twelve month high of $5.50.

Generation Bio (NASDAQ:GBIO) last announced its quarterly earnings data on Monday, May 13th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.76). The firm had revenue of $4.06 million for the quarter, compared to analyst estimates of $3.02 million. Generation Bio had a negative return on equity of 82.33% and a negative net margin of 1,696.87%. Equities analysts predict that Generation Bio will post -1.68 EPS for the current year.

Institutional Trading of Generation Bio

Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in shares of Generation Bio by 199.3% in the 2nd quarter. American Century Companies Inc. now owns 31,786 shares of the company’s stock worth $90,000 after acquiring an additional 21,167 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Generation Bio by 23.9% during the second quarter. Acadian Asset Management LLC now owns 594,569 shares of the company’s stock worth $1,675,000 after purchasing an additional 114,734 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Generation Bio by 7.4% in the second quarter. Rhumbline Advisers now owns 78,903 shares of the company’s stock valued at $222,000 after buying an additional 5,430 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Generation Bio by 31.2% in the second quarter. Bank of New York Mellon Corp now owns 186,756 shares of the company’s stock valued at $527,000 after buying an additional 44,378 shares during the last quarter. Finally, Artal Group S.A. lifted its position in Generation Bio by 0.6% during the 1st quarter. Artal Group S.A. now owns 2,830,591 shares of the company’s stock worth $11,521,000 after buying an additional 16,400 shares in the last quarter. 95.22% of the stock is 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.