Generation Bio (NASDAQ:GBIO) Shares Down 0.4%

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

Wall Street Analyst Weigh In

GBIO has been the subject of a number of analyst reports. Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Generation Bio in a research report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of Generation Bio in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Generation Bio Stock Down 6.0 %

The company has a market capitalization of $145.03 million, a price-to-earnings ratio of -0.85 and a beta of 2.81. The company has a 50 day simple moving average of $2.67 and a 200 day simple moving average of $2.98.

Generation Bio (NASDAQ:GBIO) last announced 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 business had revenue of $4.09 million for the quarter, compared to analyst estimates of $3.23 million. On average, research analysts forecast that Generation Bio Co. will post -1.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Generation Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of Generation Bio by 28.2% during 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 buying an additional 1,952,187 shares in the last quarter. Bellevue Group AG lifted its stake 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 buying an additional 244,495 shares during the last quarter. Artal Group S.A. boosted its stake 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 valued at $11,521,000 after purchasing an additional 16,400 shares during the period. Vanguard Group Inc. grew its position in Generation Bio by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,570,456 shares of the company’s stock worth $10,462,000 after purchasing an additional 18,205 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position 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 buying an additional 114,734 shares during the period. Hedge funds and other institutional investors own 95.22% of the company’s stock.

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.