Generation Bio’s (GBIO) “Outperform” Rating Reiterated at Wedbush

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

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of Generation Bio in a research note on Wednesday, October 23rd.

Generation Bio Stock Performance

NASDAQ:GBIO traded down $0.12 during mid-day trading on Thursday, hitting $2.26. 185,843 shares of the company’s stock traded hands, compared to its average volume of 106,150. The company has a market cap of $150.83 million, a PE ratio of -1.03 and a beta of 2.82. The firm’s 50 day simple moving average is $2.40 and its 200 day simple moving average is $2.73. Generation Bio has a 1 year low of $1.02 and a 1 year high of $4.65.

Generation Bio (NASDAQ:GBIO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.04). The company had revenue of $4.09 million for the quarter, compared to analyst estimates of $3.23 million. Generation Bio had a negative return on equity of 96.87% and a negative net margin of 782.86%. On average, research analysts expect that Generation Bio will post -1.8 earnings per share for the current fiscal year.

Institutional Trading of Generation Bio

A number of hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in shares of 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 acquiring an additional 1,952,187 shares during the last quarter. Baker BROS. Advisors LP acquired a new stake in shares of Generation Bio during the 1st quarter worth $1,511,000. Acadian Asset Management LLC raised its position in shares of Generation Bio by 113.9% in the 1st quarter. Acadian Asset Management LLC now owns 479,835 shares of the company’s stock worth $1,952,000 after buying an additional 255,468 shares during the period. Bellevue Group AG raised its position in shares of Generation Bio by 6.8% in the 1st quarter. Bellevue Group AG now owns 3,861,575 shares of the company’s stock worth $15,717,000 after buying an additional 244,495 shares during the period. Finally, Yiheng Capital Management L.P. acquired a new position in Generation Bio in the first quarter valued at $780,000. 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.