UBS Group AG Boosts Holdings in Generation Bio Co. (NASDAQ:GBIO)

UBS Group AG raised its holdings in Generation Bio Co. (NASDAQ:GBIO – Get Rating) by 3,591.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 371,942 shares of the company’s stock after purchasing an additional 361,865 shares during the quarter. UBS Group AG owned 0.63% of Generation Bio worth $1,975,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA purchased a new stake in Generation Bio in the third quarter valued at $136,000. TD Asset Management Inc. boosted its holdings in Generation Bio by 10.2% in the third quarter. TD Asset Management Inc. now owns 231,461 shares of the company’s stock valued at $1,178,000 after purchasing an additional 21,500 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of Generation Bio during the 3rd quarter worth about $54,000. Russell Investments Group Ltd. purchased a new position in shares of Generation Bio in the 3rd quarter valued at about $122,000. Finally, Teacher Retirement System of Texas acquired a new position in Generation Bio in the 3rd quarter worth about $75,000. 97.09% of the stock is owned by hedge funds and other institutional investors.

Generation Bio Stock Up 4.2 %

Shares of GBIO opened at $4.31 on Wednesday. Generation Bio Co. has a 52-week low of $3.55 and a 52-week high of $9.59. The firm’s fifty day moving average is $4.99 and its two-hundred day moving average is $5.20. The stock has a market cap of $256.88 million, a PE ratio of -1.83 and a beta of 1.95.

Analyst Ratings Changes

A number of analysts have recently commented on GBIO shares. Canaccord Genuity Group assumed coverage on Generation Bio in a research report on Tuesday, November 8th. They issued a “buy” rating and a $9.00 price objective for the company. Needham & Company LLC dropped their price target on shares of Generation Bio from $23.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, February 24th. Finally, JMP Securities dropped their price target on shares of Generation Bio from $7.00 to $2.23 and set a “market outperform” rating on the stock in a research note on Monday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Generation Bio currently has an average rating of “Buy” and an average target price of $12.31.

Generation Bio Profile

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Generation Bio Co, a genetic medicines company, develops therapies for the treatment of rare and prevalent diseases. The company provides a portfolio of programs, including programs for rare and prevalent diseases of the liver and retina. It also focuses on the diseases of skeletal muscle, central nervous system, and oncology.