Wedbush Reaffirms “Outperform” Rating for Generation Bio (NASDAQ:GBIO)

Generation Bio (NASDAQ:GBIO)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a report released on Thursday,RTT News reports. They presently have a $5.00 price objective on the stock. Wedbush’s target price points to a potential upside of 121.24% from the stock’s current price.

Separately, Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective on shares of Generation Bio in a research note on Wednesday, October 23rd.

Generation Bio Stock Performance

Shares of GBIO stock opened at $2.26 on Thursday. The company has a 50 day moving average of $2.40 and a 200-day moving average of $2.73. Generation Bio has a 12-month low of $1.02 and a 12-month high of $4.65.

Generation Bio (NASDAQ:GBIO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.05. The business had revenue of $7.55 million during the quarter, compared to analyst estimates of $2.16 million. Generation Bio had a negative return on equity of 96.87% and a negative net margin of 782.86%. On average, sell-side analysts forecast that Generation Bio will post -1.8 EPS for the current year.

Hedge Funds Weigh In On Generation Bio

Large investors have recently made changes to their positions in the stock. PFG Advisors purchased a new stake in Generation Bio during the 1st quarter worth about $41,000. SG Americas Securities LLC bought a new stake in shares of Generation Bio during the third quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Generation Bio in the first quarter worth about $74,000. Cubist Systematic Strategies LLC boosted its position in shares of Generation Bio by 91.0% in the second quarter. Cubist Systematic Strategies LLC now owns 19,046 shares of the company’s stock valued at $54,000 after acquiring an additional 9,075 shares during the period. Finally, American Century Companies Inc. grew its stake in Generation Bio by 199.3% during the second quarter. American Century Companies Inc. now owns 31,786 shares of the company’s stock valued at $90,000 after acquiring an additional 21,167 shares in 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.