Generate Biomedicines (NASDAQ:GENB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Generate Biomedicines (NASDAQ:GENB) from a sell rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other equities research analysts also recently weighed in on GENB. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Generate Biomedicines in a research note on Tuesday, September 8th. Weiss Ratings assumed coverage on shares of Generate Biomedicines in a research report on Tuesday, August 11th. They issued a “sell (d)” rating for the company. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.40.

Generate Biomedicines Price Performance

Shares of Generate Biomedicines stock opened at $14.91 on Friday. The stock has a market capitalization of $1.91 billion and a price-to-earnings ratio of -9.38. The business has a 50-day moving average of $15.49 and a 200 day moving average of $14.31. Generate Biomedicines has a 12 month low of $11.00 and a 12 month high of $22.67.

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

Institutional Trading of Generate Biomedicines

Large investors have recently made changes to their positions in the company. State Street Corp acquired a new stake in Generate Biomedicines in the second quarter valued at approximately $8,883,000. The Manufacturers Life Insurance Company acquired a new position in Generate Biomedicines during the 2nd quarter worth approximately $1,431,000. Squarepoint Ops LLC purchased a new stake in shares of Generate Biomedicines in the 2nd quarter valued at approximately $530,000. AXQ Capital LP purchased a new stake in shares of Generate Biomedicines in the 2nd quarter valued at approximately $218,000. Finally, Braidwell LP acquired a new stake in shares of Generate Biomedicines in the 2nd quarter valued at $55,398,000.

Generate Biomedicines Company Profile

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.