Generation Bio (NASDAQ:GBIO) Rating Reiterated by Needham & Company LLC

Generation Bio (NASDAQ:GBIO)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They currently have a $10.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 150.00% from the stock’s current price.

Separately, Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Generation Bio in a research report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Generation Bio currently has an average rating of “Hold” and an average price target of $8.00.

Generation Bio Stock Up 7.8 %

Shares of NASDAQ GBIO opened at $4.00 on Wednesday. The firm’s 50-day simple moving average is $2.90 and its 200 day simple moving average is $2.23. The stock has a market cap of $265.92 million, a P/E ratio of -2.04 and a beta of 2.79. Generation Bio has a fifty-two week low of $0.86 and a fifty-two week high of $6.98.

Generation Bio (NASDAQ:GBIO) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.12). The business had revenue of $2.88 million for the quarter, compared to the consensus estimate of $3.05 million. On average, sell-side analysts anticipate that Generation Bio will post -1.34 earnings per share for the current fiscal year.

Institutional Trading of Generation Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its position in Generation Bio by 0.4% in the first quarter. FMR LLC now owns 8,949,863 shares of the company’s stock worth $38,484,000 after buying an additional 36,532 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Generation Bio by 1.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,931,613 shares of the company’s stock worth $58,591,000 after acquiring an additional 167,922 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Generation Bio by 3.3% in the 3rd quarter. BlackRock Inc. now owns 3,616,045 shares of the company’s stock worth $19,202,000 after acquiring an additional 114,082 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Generation Bio by 2.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,577,755 shares of the company’s stock worth $14,061,000 after purchasing an additional 95,138 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Generation Bio by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 2,552,251 shares of the company’s stock valued at $4,211,000 after purchasing an additional 213,467 shares during the last quarter. 95.22% of the stock is owned by institutional investors and hedge funds.

Generation Bio Company Profile

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.