Short Interest in Generation Bio Co. (NASDAQ:GBIO) Drops By 10.8%

Generation Bio Co. (NASDAQ:GBIO) was the recipient of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,480,000 shares, a drop of 10.8% from the October 31st total of 1,660,000 shares. Based on an average daily volume of 129,800 shares, the days-to-cover ratio is currently 11.4 days. Approximately 3.2% of the company’s shares are short sold.

Generation Bio Price Performance

Shares of Generation Bio stock traded down $0.05 during trading on Tuesday, hitting $1.37. 403,896 shares of the company were exchanged, compared to its average volume of 182,021. The firm has a market capitalization of $91.50 million, a P/E ratio of -0.63 and a beta of 2.66. Generation Bio has a 1-year low of $1.24 and a 1-year high of $4.65. The firm’s fifty day moving average price is $2.09 and its 200 day moving average price is $2.55.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $5.00 price objective on shares of Generation Bio in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Generation Bio in a research report on Wednesday, October 23rd.

Hedge Funds Weigh In On Generation Bio

Several institutional investors have recently modified their holdings of GBIO. Baker BROS. Advisors LP grew its position in shares of Generation Bio by 61.1% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,944,945 shares of the company’s stock worth $4,804,000 after buying an additional 737,988 shares during the period. Acadian Asset Management LLC grew its position in shares of Generation Bio by 23.9% during the 2nd 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. Barclays PLC grew its position in shares of Generation Bio by 165.5% during the 3rd quarter. Barclays PLC now owns 76,430 shares of the company’s stock worth $189,000 after buying an additional 47,639 shares during the period. Bank of New York Mellon Corp grew its position in shares of Generation Bio by 31.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 186,756 shares of the company’s stock valued at $527,000 after purchasing an additional 44,378 shares during the period. Finally, American Century Companies Inc. grew its position 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 valued at $90,000 after purchasing an additional 21,167 shares during the period. 95.22% of the stock is currently 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.