Generation Bio’s (GBIO) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Generation Bio (NASDAQ:GBIO) in a report released on Thursday,Benzinga reports. The firm currently has a $8.00 price target on the stock.

Several other analysts have also commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $9.00 price target on shares of Generation Bio in a research report on Monday, March 17th. Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Generation Bio in a research report on Friday, March 14th.

Generation Bio Price Performance

GBIO stock opened at $0.35 on Thursday. Generation Bio has a 1 year low of $0.32 and a 1 year high of $4.34. The firm has a market capitalization of $23.52 million, a PE ratio of -0.16 and a beta of 2.76. The business has a 50 day simple moving average of $0.43 and a 200-day simple moving average of $0.93.

Generation Bio (NASDAQ:GBIO) last issued its earnings results on Wednesday, May 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.03. Generation Bio had a negative return on equity of 104.85% and a negative net margin of 782.86%. The business had revenue of $8.72 million during the quarter, compared to the consensus estimate of $1.70 million. On average, equities research analysts expect that Generation Bio will post -1.75 EPS for the current year.

Institutional Trading of Generation Bio

Several institutional investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new position in shares of Generation Bio during the fourth quarter worth $2,398,000. Renaissance Technologies LLC boosted its holdings in Generation Bio by 62.0% during the 4th quarter. Renaissance Technologies LLC now owns 962,959 shares of the company’s stock valued at $1,021,000 after acquiring an additional 368,659 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Generation Bio by 13.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 311,535 shares of the company’s stock valued at $330,000 after acquiring an additional 38,090 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Generation Bio by 74.9% during the fourth quarter. JPMorgan Chase & Co. now owns 297,705 shares of the company’s stock worth $316,000 after purchasing an additional 127,513 shares during the period. Finally, Deutsche Bank AG lifted its position in shares of Generation Bio by 688.7% during the fourth quarter. Deutsche Bank AG now owns 184,173 shares of the company’s stock worth $195,000 after purchasing an additional 160,822 shares in the last quarter. Institutional investors and hedge funds 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.