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

Generation Bio (NASDAQ:GBIO)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $15.00 price objective on the stock. Needham & Company LLC’s price target points to a potential upside of 125.23% from the company’s current price.

GBIO has been the topic of several other research reports. Wall Street Zen cut Generation Bio from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Wedbush cut Generation Bio from an “outperform” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research note on Wednesday.

Generation Bio Price Performance

Shares of NASDAQ GBIO opened at $6.66 on Wednesday. Generation Bio has a 1-year low of $3.00 and a 1-year high of $29.40. The business has a 50-day moving average of $4.12 and a 200-day moving average of $4.63. The company has a market capitalization of $44.89 million, a price-to-earnings ratio of -0.62 and a beta of 2.67.

Generation Bio (NASDAQ:GBIO) last issued its earnings results on Tuesday, August 12th. The company reported ($3.12) earnings per share for the quarter, missing the consensus estimate of ($2.80) by ($0.32). Generation Bio had a negative return on equity of 91.07% and a negative net margin of 341.12%. The company had revenue of $0.77 million during the quarter, compared to analysts’ expectations of $2.51 million. Research analysts expect that Generation Bio will post -1.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Millennium Management LLC acquired a new stake in Generation Bio during the fourth quarter valued at approximately $97,000. Squarepoint Ops LLC acquired a new stake in Generation Bio during the fourth quarter valued at approximately $70,000. Renaissance Technologies LLC raised its stake in Generation Bio by 62.0% during the fourth 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. Deutsche Bank AG raised its stake in Generation Bio by 688.7% during the fourth 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. Finally, EWA LLC acquired a new stake in Generation Bio during the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 95.22% of the company’s stock.

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.