Generate Biomedicines (NASDAQ:GENB) Cut to Sell at Wall Street Zen

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

Other equities research analysts have also issued research reports about the stock. 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. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Generate Biomedicines in a research report on Monday, October 5th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.40.

Generate Biomedicines Stock Up 3.9%

GENB stock opened at $12.56 on Friday. Generate Biomedicines has a fifty-two week low of $11.00 and a fifty-two week high of $22.67. The firm’s 50-day simple moving average is $15.37 and its 200 day simple moving average is $14.45.

Generate Biomedicines (NASDAQ:GENB) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.04). The company had revenue of $6.31 million for the quarter. As a group, analysts forecast that Generate Biomedicines will post -2.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Banque Pictet & Cie SA acquired a new stake in Generate Biomedicines in the 3rd quarter valued at about $26,631,000. State Street Corp bought a new position in shares of Generate Biomedicines during the 2nd quarter valued at about $8,883,000. The Manufacturers Life Insurance Company bought a new position in shares of Generate Biomedicines during the 2nd quarter valued at about $1,431,000. Squarepoint Ops LLC acquired a new position in shares of Generate Biomedicines in the 2nd quarter worth approximately $530,000. Finally, AXQ Capital LP acquired a new position in shares of Generate Biomedicines in the 2nd quarter worth approximately $218,000.

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.