Needham & Company LLC Reiterates “Buy” Rating for Generation Bio (NASDAQ:GBIO)

Generation Bio (NASDAQ:GBIO)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They presently have a $10.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 329.18% from the company’s previous close.

Separately, Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of Generation Bio in a report on Thursday, August 8th.

Generation Bio Trading Up 4.0 %

Shares of NASDAQ GBIO opened at $2.33 on Wednesday. The firm’s 50-day moving average price is $2.49 and its 200-day moving average price is $2.83. The stock has a market capitalization of $155.01 million, a price-to-earnings ratio of -0.91 and a beta of 2.80. Generation Bio has a 12-month low of $0.86 and a 12-month high of $4.65.

Generation Bio (NASDAQ:GBIO) last announced its earnings results 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 business had revenue of $4.09 million for the quarter, compared to analysts’ expectations of $3.23 million. Generation Bio had a negative net margin of 1,202.56% and a negative return on equity of 92.86%. On average, equities analysts predict that Generation Bio will post -1.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Generation Bio

Several hedge funds have recently added to or reduced their stakes in GBIO. Price T Rowe Associates Inc. MD grew its stake in Generation Bio by 28.2% in the 1st 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 in the last quarter. Acadian Asset Management LLC grew its stake in 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 acquiring an additional 255,468 shares in the last quarter. Bellevue Group AG grew its stake in 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 acquiring an additional 244,495 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Generation Bio in the 1st quarter worth about $74,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Generation Bio by 91.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 19,046 shares of the company’s stock worth $54,000 after purchasing an additional 9,075 shares during the period. 95.22% of the stock is currently owned by institutional investors.

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.