Generation Bio (NASDAQ:GBIO) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Generation Bio (NASDAQ:GBIO) in a research note released on Friday morning,Benzinga reports. They currently have a $8.00 target price on the stock.

Generation Bio Stock Performance

Shares of Generation Bio stock opened at $0.48 on Friday. The firm has a market cap of $32.06 million, a P/E ratio of -0.22 and a beta of 2.72. The firm’s 50-day simple moving average is $0.74 and its 200-day simple moving average is $1.53. Generation Bio has a twelve month low of $0.47 and a twelve month high of $4.65.

Generation Bio (NASDAQ:GBIO) last released its quarterly earnings data on Wednesday, March 19th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). Generation Bio had a negative net margin of 782.86% and a negative return on equity of 104.85%. On average, equities analysts forecast that Generation Bio will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Generation Bio

In other news, Director Anthony G. Quinn bought 85,000 shares of Generation Bio stock in a transaction dated Monday, January 13th. The shares were bought at an average price of $0.97 per share, for a total transaction of $82,450.00. Following the purchase, the director now owns 299,286 shares of the company’s stock, valued at approximately $290,307.42. This trade represents a 39.67 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 21.10% of the company’s stock.

Hedge Funds Weigh In On Generation Bio

Institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in Generation Bio during the fourth quarter worth about $25,000. Squarepoint Ops LLC acquired a new stake in Generation Bio during the 4th quarter valued at $70,000. Integrated Wealth Concepts LLC bought a new position in Generation Bio in the 4th quarter valued at $77,000. Aegis Wealth Management LLC acquired a new position in Generation Bio in the fourth quarter worth $94,000. Finally, Millennium Management LLC bought a new stake in shares of Generation Bio during the fourth quarter worth $97,000. 95.22% of the stock is owned by institutional investors.

About Generation Bio

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.