Generation Bio Co. (NASDAQ:GBIO) Director Sells $623,019.93 in Stock


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Generation Bio Co. (NASDAQ:GBIO) Director Jason P. Rhodes sold 23,413 shares of the stock in a transaction dated Wednesday, April 14th. The stock was sold at an average price of $26.61, for a total value of $623,019.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

GBIO traded up $1.19 during midday trading on Wednesday, reaching $26.58. The company’s stock had a trading volume of 283,067 shares, compared to its average volume of 691,400. The company has a fifty day simple moving average of $32.14 and a 200 day simple moving average of $31.73. Generation Bio Co. has a twelve month low of $17.00 and a twelve month high of $55.72.

Generation Bio (NASDAQ:GBIO) last released its earnings results on Wednesday, March 17th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.23. As a group, analysts anticipate that Generation Bio Co. will post -2.89 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its position in shares of Generation Bio by 222.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,244 shares of the company’s stock worth $64,000 after acquiring an additional 1,548 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Generation Bio in the 4th quarter worth approximately $563,000. JPMorgan Chase & Co. lifted its position in shares of Generation Bio by 47.9% in the 4th quarter. JPMorgan Chase & Co. now owns 779,070 shares of the company’s stock worth $22,086,000 after acquiring an additional 252,436 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Generation Bio in the 4th quarter worth approximately $391,000. Finally, Darwin Global Management Ltd. bought a new stake in shares of Generation Bio in the 4th quarter worth approximately $5,590,000. Institutional investors own 63.26% of the company’s stock.

Several equities research analysts recently issued reports on the company. William Blair assumed coverage on Generation Bio in a research note on Monday, March 1st. They issued an “outperform” rating and a $45.00 price objective for the company. Needham & Company LLC assumed coverage on Generation Bio in a research note on Thursday, February 25th. They set a “buy” rating and a $50.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on Generation Bio from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Monday, March 22nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $40.60.

About Generation Bio

Generation Bio Co, a genetic medicines company, develops gene therapies for the treatment of rare and prevalent diseases. The company is developing a portfolio of programs for rare and prevalent diseases of the liver and retina. It also focuses on the diseases of skeletal muscle, central nervous system, and oncology.

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