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

Generate Biomedicines Inc (NASDAQ:GENB) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $26.40.

GENB has been the topic of several analyst reports. Weiss Ratings raised Generate Biomedicines from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 25th. Wall Street Zen raised shares of Generate Biomedicines from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Generate Biomedicines in a research note on Monday, October 5th.

Institutional Trading of Generate Biomedicines

Several large investors have recently made changes to their positions in the company. Braidwell LP acquired a new position in Generate Biomedicines during the second quarter valued at approximately $55,398,000. State Street Corp acquired a new position in shares of Generate Biomedicines during the 2nd quarter worth $8,883,000. The Manufacturers Life Insurance Company acquired a new stake in Generate Biomedicines in the second quarter valued at about $1,431,000. Bank of New York Mellon Corp acquired a new stake in shares of Generate Biomedicines in the 2nd quarter valued at approximately $967,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Generate Biomedicines during the second quarter worth $530,000.

Generate Biomedicines Trading Up 2.5%

Shares of GENB stock opened at $14.34 on Friday. The stock has a market cap of $1.84 billion and a P/E ratio of -9.02. Generate Biomedicines has a 1 year low of $11.00 and a 1 year high of $22.67. The stock has a 50 day simple moving average of $15.57 and a 200 day simple moving average of $14.41.

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

About Generate Biomedicines

Generate Biomedicines is a biotechnology company focused on discovering and developing protein-based medicines. The company uses generative artificial intelligence, machine learning and laboratory-based biological research to design new therapeutic proteins and identify candidates with potential applications in a range of diseases.

Its platform, often described as a generative biology approach, is designed to model biological systems and create proteins with desired characteristics rather than relying solely on modifying naturally occurring molecules.