Generation Bio (NASDAQ:GBIO - Free Report) had its price objective lowered by Needham & Company LLC from $10.00 to $8.00 in a research note released on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.
Separately, Wedbush reaffirmed an "outperform" rating and issued a $5.00 price objective on shares of Generation Bio in a research note on Thursday, November 7th.
Check Out Our Latest Stock Report on Generation Bio
Generation Bio Trading Down 12.5 %
NASDAQ GBIO traded down $0.13 on Wednesday, hitting $0.91. 874,746 shares of the company's stock were exchanged, compared to its average volume of 732,271. The stock has a 50-day moving average of $1.43 and a 200-day moving average of $2.18. The stock has a market cap of $60.79 million, a price-to-earnings ratio of -0.42 and a beta of 2.72. Generation Bio has a 52 week low of $0.75 and a 52 week high of $4.65.
Institutional Trading of Generation Bio
A number of hedge funds have recently added to or reduced their stakes in GBIO. SG Americas Securities LLC acquired a new position in shares of Generation Bio during the third quarter worth $42,000. Cubist Systematic Strategies LLC increased its holdings in Generation Bio by 91.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 19,046 shares of the company's stock worth $54,000 after purchasing an additional 9,075 shares in the last quarter. American Century Companies Inc. raised its position in Generation Bio by 199.3% in the second quarter. American Century Companies Inc. now owns 31,786 shares of the company's stock valued at $90,000 after purchasing an additional 21,167 shares during the last quarter. Barclays PLC boosted its stake in shares of Generation Bio by 165.5% during the third quarter. Barclays PLC now owns 76,430 shares of the company's stock valued at $189,000 after purchasing an additional 47,639 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Generation Bio by 7.4% during the second quarter. Rhumbline Advisers now owns 78,903 shares of the company's stock worth $222,000 after purchasing an additional 5,430 shares during the last quarter. Institutional investors and hedge funds own 95.22% of the company's stock.
About Generation Bio
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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.
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