Generate Biomedicines Inc $GENB Stock Holdings Increased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in Generate Biomedicines Inc (NASDAQ:GENB) by 103.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 78,531 shares of the company’s stock after purchasing an additional 39,866 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Generate Biomedicines were worth $1,180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Braidwell LP bought a new position in shares of Generate Biomedicines during the 2nd quarter valued at approximately $55,398,000. Banque Pictet & Cie SA purchased a new stake in Generate Biomedicines in the 3rd quarter worth approximately $26,631,000. State Street Corp bought a new stake in Generate Biomedicines during the 2nd quarter worth approximately $8,883,000. The Manufacturers Life Insurance Company bought a new stake in Generate Biomedicines during the 2nd quarter worth approximately $1,431,000. Finally, Bank Pictet & Cie Europe AG purchased a new position in Generate Biomedicines during the third quarter valued at approximately $1,168,000.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GENB shares. Wall Street Zen lowered shares of Generate Biomedicines from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. HC Wainwright restated a “buy” rating on shares of Generate Biomedicines in a research report on Friday, October 30th. Finally, Weiss Ratings upgraded shares of Generate Biomedicines from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Generate Biomedicines has an average rating of “Moderate Buy” and an average target price of $26.40.

Generate Biomedicines Trading Up 3.9%

NASDAQ GENB opened at $13.06 on Friday. The stock’s 50 day moving average is $14.61 and its 200 day moving average is $14.14. Generate Biomedicines Inc has a 12 month low of $11.00 and a 12 month high of $22.67. The stock has a market cap of $1.68 billion and a PE ratio of -8.21.

Generate Biomedicines (NASDAQ:GENB) last announced its quarterly earnings data 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. On average, analysts forecast that Generate Biomedicines Inc will post -2.29 EPS for the current fiscal year.

About Generate Biomedicines

Generate Biomedicines is a biotechnology company that uses generative artificial intelligence, machine learning and protein engineering to design novel protein-based medicines. Its platform is intended to identify and develop therapeutic proteins with desired biological properties, potentially shortening the time required to discover new drug candidates.

The company’s research activities focus on applying computational biology and laboratory experimentation to create medicines for a range of diseases, including conditions in immunology, inflammation, oncology and other areas of significant unmet medical need.