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

Needham & Company LLC reaffirmed their buy rating on shares of Generation Bio (NASDAQ:GBIO) in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a $10.00 price objective on the stock.

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 Stock Down 1.4 %

NASDAQ:GBIO opened at $2.14 on Wednesday. Generation Bio has a twelve month low of $0.88 and a twelve month high of $4.65. The firm has a market capitalization of $142.82 million, a price-to-earnings ratio of -0.90 and a beta of 2.80. The stock’s 50 day moving average price is $2.47 and its two-hundred day moving average price is $2.80.

Generation Bio (NASDAQ:GBIO) last posted its quarterly 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). Generation Bio had a negative return on equity of 92.86% and a negative net margin of 1,202.56%. The firm had revenue of $4.09 million for the quarter, compared to the consensus estimate of $3.23 million. As a group, analysts anticipate that Generation Bio will post -1.8 earnings per share for the current year.

Hedge Funds Weigh In On Generation Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Generation Bio during the 1st quarter worth about $74,000. PFG Advisors acquired a new position in shares of Generation Bio in the first quarter valued at approximately $41,000. Vanguard Group Inc. grew its position in shares of Generation Bio by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,570,456 shares of the company’s stock valued at $10,462,000 after purchasing an additional 18,205 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Generation Bio by 113.9% during the first quarter. Acadian Asset Management LLC now owns 479,835 shares of the company’s stock worth $1,952,000 after purchasing an additional 255,468 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Generation Bio by 28.2% during 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 purchasing an additional 1,952,187 shares during the last quarter. 95.22% of the stock is 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.