Generate Biomedicines Inc’s Lock-Up Period Set To End Tomorrow (NASDAQ:GENB)

Generate Biomedicines’ (NASDAQ:GENB) lock-up period will end on Wednesday, August 26th. Generate Biomedicines had issued 25,000,000 shares in its initial public offering on February 27th. The total size of the offering was $400,000,000 based on an initial share price of $16.00. After the end of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analysts Set New Price Targets

A number of brokerages have issued reports on GENB. Morgan Stanley upped their target price on Generate Biomedicines from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Wall Street Zen lowered shares of Generate Biomedicines from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. HC Wainwright upped their price target on shares of Generate Biomedicines from $16.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Weiss Ratings assumed coverage on shares of Generate Biomedicines in a research note on Tuesday, August 11th. They set a “sell (d)” rating on the stock. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.40.

Generate Biomedicines Trading Up 9.9%

GENB stock opened at $17.72 on Tuesday. The company has a market capitalization of $2.27 billion and a price-to-earnings ratio of -11.14. Generate Biomedicines has a 1-year low of $11.00 and a 1-year high of $18.18. The company’s fifty day simple moving average is $15.05.

Generate Biomedicines (NASDAQ:GENB) last posted 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 firm had revenue of $6.31 million for the quarter. As a group, equities research analysts predict that Generate Biomedicines will post -2.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Generate Biomedicines

A number of hedge funds and other institutional investors have recently bought and sold shares of GENB. California State Teachers Retirement System bought a new position in shares of Generate Biomedicines during the second quarter valued at approximately $96,000. AXQ Capital LP acquired a new position in Generate Biomedicines during the 2nd quarter valued at approximately $218,000. Braidwell LP acquired a new position in Generate Biomedicines during the 2nd quarter valued at approximately $55,398,000. Susquehanna International Group LLP bought a new position in Generate Biomedicines during the 2nd quarter worth $196,000. Finally, Bank of New York Mellon Corp acquired a new stake in Generate Biomedicines in the second quarter worth $967,000.

Generate Biomedicines Company Profile

Generate Biomedicines, Inc (NASDAQ: GENB) is a biotechnology company that applies machine learning and generative artificial intelligence to the design and discovery of novel therapeutics. The company develops computational platforms to create and optimize protein sequences and biological molecules with the goal of producing new medicines across a range of modalities. Its core activities center on algorithm-driven design, iterative experimental validation, and the translation of computational outputs into candidate therapeutic molecules.

Generate’s technology combines advanced computational models with high-throughput laboratory methods to accelerate discovery and improve the likelihood of producing viable drug candidates.