Generation Bio (NASDAQ:GBIO) Trading 13.9% Higher – Here’s Why

Generation Bio Co. (NASDAQ:GBIO) shares traded up 13.9% during trading on Monday . The stock traded as high as $0.45 and last traded at $0.44. 1,999,892 shares changed hands during trading, an increase of 381% from the average session volume of 416,001 shares. The stock had previously closed at $0.39.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GBIO shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $9.00 price target on shares of Generation Bio in a report on Monday, March 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price target on shares of Generation Bio in a report on Thursday, May 8th.

Generation Bio Stock Performance

The company has a 50-day simple moving average of $0.37 and a 200-day simple moving average of $0.54. The company has a market cap of $29.50 million, a price-to-earnings ratio of -0.41 and a beta of 2.59.

Generation Bio (NASDAQ:GBIO) last released its earnings results on Wednesday, May 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.03. Generation Bio had a negative return on equity of 75.84% and a negative net margin of 292.92%. The company had revenue of $8.72 million for the quarter, compared to analysts’ expectations of $1.70 million. As a group, equities research analysts forecast that Generation Bio Co. will post -1.75 EPS for the current year.

Institutional Investors Weigh In On Generation Bio

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jefferies Financial Group Inc. purchased a new stake in Generation Bio in the 4th quarter valued at approximately $2,398,000. Acadian Asset Management LLC lifted its stake in Generation Bio by 54.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,159,135 shares of the company’s stock valued at $468,000 after buying an additional 407,843 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Generation Bio by 62.0% in the 4th quarter. Renaissance Technologies LLC now owns 962,959 shares of the company’s stock valued at $1,021,000 after buying an additional 368,659 shares in the last quarter. Nuveen LLC purchased a new stake in Generation Bio in the 1st quarter valued at approximately $69,000. Finally, Deutsche Bank AG lifted its stake in Generation Bio by 688.7% in the 4th quarter. Deutsche Bank AG now owns 184,173 shares of the company’s stock valued at $195,000 after buying an additional 160,822 shares in the last quarter. 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.