Needham & Company LLC Reaffirms “Buy” Rating for Generation Bio (NASDAQ:GBIO)

Generation Bio (NASDAQ:GBIO)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They presently have a $10.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 360.83% from the company’s current price.

Separately, Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Generation Bio in a report on Thursday, August 8th.

Generation Bio Stock Down 2.3 %

Shares of Generation Bio stock opened at $2.17 on Wednesday. Generation Bio has a twelve month low of $0.86 and a twelve month high of $4.65. The stock has a market cap of $144.37 million, a price-to-earnings ratio of -0.85 and a beta of 2.80. The company’s fifty day moving average is $2.48 and its 200 day moving average is $2.82.

Generation Bio (NASDAQ:GBIO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.04). The business had revenue of $4.09 million during the quarter, compared to the consensus estimate of $3.23 million. Generation Bio had a negative return on equity of 92.86% and a negative net margin of 1,202.56%. As a group, equities analysts anticipate that Generation Bio will post -1.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Generation Bio

Several hedge funds and other institutional investors have recently bought and sold shares of GBIO. Price T Rowe Associates Inc. MD raised its holdings in shares of Generation Bio by 28.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,878,361 shares of the company’s stock valued at $36,136,000 after purchasing an additional 1,952,187 shares during the period. Baker BROS. Advisors LP acquired a new position in shares of Generation Bio during the first quarter valued at about $1,511,000. Acadian Asset Management LLC raised its holdings in shares of Generation Bio by 113.9% during the first quarter. Acadian Asset Management LLC now owns 479,835 shares of the company’s stock valued at $1,952,000 after purchasing an additional 255,468 shares during the period. Bellevue Group AG raised its holdings in shares of Generation Bio by 6.8% during the first quarter. Bellevue Group AG now owns 3,861,575 shares of the company’s stock valued at $15,717,000 after purchasing an additional 244,495 shares during the period. Finally, Yiheng Capital Management L.P. acquired a new position in shares of Generation Bio during the first quarter valued at about $780,000. Institutional investors and hedge funds own 95.22% of the company’s stock.

About Generation Bio

Generation Bio Co develops non-viral genetic medicines for the treatment of rare and prevalent diseases. The company develops cell-targeted lipid nanoparticle (ctLNP) platform, a modular delivery system for nucleic acids to avoid off-target clearance by the liver and spleen that enables ctLNPs to persist in systemic circulation, which allows for highly selective and potent ligand-driven targeting to specific tissues and cell types; and novel immune-quiet DNA (iqDNA) to enable long-lasting high levels of gene expression from non-integrating episomes and avoids innate immune sensors that have long prevented DNA from use in non-viral systems.