Generation Bio (NASDAQ:GBIO) Earns Buy Rating from Needham & Company LLC

Generation Bio (NASDAQ:GBIO)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They presently have a $8.00 price target on the stock.

Several other analysts have also issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Generation Bio in a research note on Friday, March 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $9.00 target price on shares of Generation Bio in a research note on Monday, March 17th.

Generation Bio Stock Down 5.4 %

Shares of GBIO stock traded down $0.02 during trading on Thursday, hitting $0.35. The company had a trading volume of 130,046 shares, compared to its average volume of 270,406. The stock has a market capitalization of $23.60 million, a price-to-earnings ratio of -0.16 and a beta of 2.78. The stock’s 50-day moving average is $0.54 and its two-hundred day moving average is $1.24. Generation Bio has a 52 week low of $0.32 and a 52 week high of $4.34.

Generation Bio (NASDAQ:GBIO) last issued its earnings results on Wednesday, March 19th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.01). The firm had revenue of $4.19 million during the quarter, compared to analysts’ expectations of $2.92 million. Generation Bio had a negative return on equity of 104.85% and a negative net margin of 782.86%. On average, research analysts predict that Generation Bio will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at Generation Bio

In related news, Director Anthony G. Quinn purchased 85,000 shares of the stock in a transaction dated Monday, January 13th. The stock was purchased at an average price of $0.97 per share, with a total value of $82,450.00. Following the transaction, the director now directly owns 299,286 shares in the company, valued at $290,307.42. This trade represents a 39.67 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 21.10% of the company’s stock.

Hedge Funds Weigh In On Generation Bio

Large investors have recently modified their holdings of the stock. State Street Corp raised its position in Generation Bio by 1.2% in the 3rd quarter. State Street Corp now owns 992,188 shares of the company’s stock worth $2,451,000 after buying an additional 11,669 shares during the last quarter. Barclays PLC grew its stake in shares of Generation Bio by 165.5% during the 3rd quarter. Barclays PLC now owns 76,430 shares of the company’s stock valued at $189,000 after purchasing an additional 47,639 shares during the period. FMR LLC grew its stake in shares of Generation Bio by 0.3% during the 3rd quarter. FMR LLC now owns 5,320,266 shares of the company’s stock valued at $13,141,000 after purchasing an additional 15,656 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Generation Bio by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,299 shares of the company’s stock valued at $1,046,000 after purchasing an additional 8,692 shares during the period. Finally, Aegis Wealth Management LLC bought a new stake in shares of Generation Bio during the 4th quarter valued at about $94,000. Hedge funds and other institutional investors own 95.22% of the company’s stock.

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.