Generation Bio Co. (NASDAQ:GBIO) Sees Large Drop in Short Interest

Generation Bio Co. (NASDAQ:GBIO) saw a large decrease in short interest in March. As of March 15th, there was short interest totalling 1,680,000 shares, a decrease of 34.4% from the February 28th total of 2,560,000 shares. Based on an average daily trading volume, of 540,400 shares, the days-to-cover ratio is currently 3.1 days. Approximately 3.7% of the company’s stock are sold short.

Insiders Place Their Bets

In related news, Director Anthony G. Quinn acquired 85,000 shares of Generation Bio stock in a transaction dated Monday, January 13th. The shares were acquired at an average cost of $0.97 per share, for a total transaction of $82,450.00. Following the completion of the purchase, the director now owns 299,286 shares in the company, valued at approximately $290,307.42. The trade was a 39.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 21.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Intech Investment Management LLC purchased a new position in Generation Bio during the fourth quarter worth $25,000. Squarepoint Ops LLC acquired a new position in Generation Bio in the 4th quarter valued at about $70,000. Integrated Wealth Concepts LLC purchased a new position in Generation Bio in the 4th quarter valued at about $77,000. Aegis Wealth Management LLC acquired a new stake in shares of Generation Bio during the 4th quarter worth about $94,000. Finally, Millennium Management LLC purchased a new stake in shares of Generation Bio during the fourth quarter worth about $97,000. 95.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on GBIO. Canaccord Genuity Group reissued a “buy” rating and set a $9.00 price objective on shares of Generation Bio in a research report on Monday, March 17th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price objective on shares of Generation Bio in a research report on Friday, March 14th. Finally, Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Generation Bio in a report on Friday, March 14th.

Generation Bio Price Performance

Generation Bio stock traded down $0.02 during mid-day trading on Monday, reaching $0.41. The company had a trading volume of 365,901 shares, compared to its average volume of 258,381. The company has a market capitalization of $27.14 million, a P/E ratio of -0.18 and a beta of 2.72. The stock’s 50-day simple moving average is $0.65 and its 200-day simple moving average is $1.38. Generation Bio has a 1 year low of $0.40 and a 1 year high of $4.65.

Generation Bio (NASDAQ:GBIO) last posted its earnings results on Wednesday, March 19th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate 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%. The firm had revenue of $4.19 million during the quarter, compared to analyst estimates of $2.92 million. On average, equities analysts forecast that Generation Bio will post -1.75 EPS for the current fiscal year.

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.