Generate Biomedicines Inc (NASDAQ:GENB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Generate Biomedicines Inc (NASDAQ:GENB) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $26.40.

A number of research firms recently commented on GENB. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Generate Biomedicines in a report on Tuesday, September 8th. Weiss Ratings initiated coverage on shares of Generate Biomedicines in a research note on Tuesday, August 11th. They set a “sell (d)” rating for the company. Finally, Wall Street Zen cut Generate Biomedicines from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th.

Institutional Investors Weigh In On Generate Biomedicines

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Braidwell LP acquired a new position in shares of Generate Biomedicines in the 2nd quarter valued at $55,398,000. The Manufacturers Life Insurance Company acquired a new position in Generate Biomedicines in the second quarter valued at $1,431,000. Bank of New York Mellon Corp purchased a new position in shares of Generate Biomedicines during the second quarter worth about $967,000. Squarepoint Ops LLC acquired a new position in Generate Biomedicines during the second quarter worth approximately $530,000. Finally, AXQ Capital LP purchased a new stake in shares of Generate Biomedicines in the second quarter valued at about $218,000.

Generate Biomedicines Stock Up 1.4%

GENB stock opened at $17.38 on Tuesday. The firm has a 50 day moving average of $15.27. The stock has a market capitalization of $2.23 billion and a price-to-earnings ratio of -10.93. Generate Biomedicines has a 1 year low of $11.00 and a 1 year high of $22.67.

Generate Biomedicines (NASDAQ:GENB) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.04). The firm had revenue of $6.31 million for the quarter. Equities research analysts forecast that Generate Biomedicines will post -2.29 earnings per share for the current fiscal year.

About Generate Biomedicines

Generate Biomedicines is a biotechnology company that uses generative artificial intelligence and machine learning to discover and design protein-based medicines. Its technology is intended to model relationships among protein sequences, structures and biological functions, helping researchers create therapeutic proteins with desired characteristics.

The company’s research activities are focused on developing novel biologic medicines for areas of significant unmet medical need, including oncology, immunology, infectious diseases and rare diseases.