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

Generation Bio (NASDAQ:GBIO)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $8.00 price target on the stock.

Generation Bio Trading Down 2.5 %

NASDAQ GBIO opened at $0.51 on Friday. The stock has a market cap of $34.20 million, a PE ratio of -0.23 and a beta of 2.72. Generation Bio has a 12 month low of $0.47 and a 12 month high of $4.65. The company’s 50-day moving average price is $0.77 and its 200-day moving average price is $1.55.

Generation Bio (NASDAQ:GBIO) last issued its earnings results on Wednesday, March 19th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). Generation Bio had a negative return on equity of 104.85% and a negative net margin of 782.86%. As a group, sell-side analysts forecast that Generation Bio will post -1.75 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Anthony G. Quinn bought 125,791 shares of the company’s stock in a transaction on Friday, January 10th. The shares were acquired at an average price of $0.96 per share, with a total value of $120,759.36. Following the transaction, the director now owns 214,286 shares of the company’s stock, valued at $205,714.56. The trade was a 142.14 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 21.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Generation Bio

A number of hedge funds have recently made changes to their positions in GBIO. Charles Schwab Investment Management Inc. lifted its position in shares of Generation Bio by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 423,299 shares of the company’s stock valued at $1,046,000 after buying an additional 8,692 shares during the last quarter. State Street Corp lifted its position in Generation Bio by 1.2% during the third quarter. State Street Corp now owns 992,188 shares of the company’s stock valued at $2,451,000 after acquiring an additional 11,669 shares during the last quarter. FMR LLC boosted its stake in Generation Bio by 0.3% in the third quarter. FMR LLC now owns 5,320,266 shares of the company’s stock valued at $13,141,000 after acquiring an additional 15,656 shares in the last quarter. Intech Investment Management LLC purchased a new position in Generation Bio in the fourth quarter worth $25,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Generation Bio by 13.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 311,535 shares of the company’s stock worth $330,000 after purchasing an additional 38,090 shares in the last quarter. 95.22% of the stock is currently owned by hedge funds and other 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.