Generate Biomedicines Inc (NASDAQ:GENB) Stock Has Average Price Target of $26.40

Generate Biomedicines Inc (NASDAQ:GENB) has earned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $26.40.

Several research firms have issued reports on GENB. HC Wainwright reaffirmed a “buy” rating on shares of Generate Biomedicines in a report on Friday, October 30th. Wall Street Zen downgraded Generate Biomedicines from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Finally, Weiss Ratings upgraded shares of Generate Biomedicines from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 25th.

Generate Biomedicines Stock Down 2.8%

Shares of NASDAQ:GENB opened at $13.78 on Wednesday. Generate Biomedicines has a 12 month low of $11.00 and a 12 month high of $22.67. The company’s 50-day moving average price is $14.56 and its two-hundred day moving average price is $14.14. The firm has a market cap of $1.77 billion and a P/E ratio of -8.67.

Hedge Funds Weigh In On Generate Biomedicines

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Magnus Financial Group LLC raised its position in shares of Generate Biomedicines by 39.4% during the 3rd quarter. Magnus Financial Group LLC now owns 21,750 shares of the company’s stock valued at $327,000 after acquiring an additional 6,150 shares during the last quarter. Susquehanna International Group LLP bought a new position in shares of Generate Biomedicines in the 2nd quarter worth $196,000. AXQ Capital LP bought a new position in shares of Generate Biomedicines in the 2nd quarter worth $218,000. Summa Corp. acquired a new stake in shares of Generate Biomedicines during the third quarter worth $250,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Generate Biomedicines during the second quarter worth $530,000.

About Generate Biomedicines

Generate Biomedicines is a biotechnology company that uses generative artificial intelligence and experimental biology to design and develop medicines. Founded in 2018 by Flagship Pioneering, the company is based in Somerville, Massachusetts. Its platform is designed to create new proteins with potential therapeutic applications, including antibodies and other biologic medicines. Generate is advancing a drug-development pipeline across areas such as immunology and oncology; one of its candidates, GB-0895, is being developed for asthma.