Generation Bio (NASDAQ:GBIO) Receives "Buy" Rating from Needham & Company LLC

Generation Bio (NASDAQ:GBIO - Get Free Report)'s stock had its "buy" rating reiterated by Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They currently have a $10.00 target price on the stock. Needham & Company LLC's price objective indicates a potential upside of 350.45% 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 note on Thursday, August 8th.

Generation Bio Trading Down 4.7 %

Shares of GBIO stock traded down $0.11 during trading hours on Wednesday, reaching $2.22. The stock had a trading volume of 85,449 shares, compared to its average volume of 183,717. The stock's fifty day simple moving average is $2.49 and its 200 day simple moving average is $2.83. The firm has a market capitalization of $147.69 million, a PE ratio of -0.91 and a beta of 2.80. Generation Bio has a 12 month low of $0.86 and a 12 month high of $4.65.

Generation Bio (NASDAQ:GBIO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.04). The firm had revenue of $4.09 million during the quarter, compared to the consensus estimate of $3.23 million. Generation Bio had a negative net margin of 1,202.56% and a negative return on equity of 92.86%. As a group, equities research analysts anticipate that Generation Bio will post -1.8 EPS for the current fiscal year.

Institutional Trading of Generation Bio

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers increased its stake in Generation Bio by 7.4% in the second quarter. Rhumbline Advisers now owns 78,903 shares of the company's stock valued at $222,000 after acquiring an additional 5,430 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Generation Bio by 91.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 19,046 shares of the company's stock valued at $54,000 after buying an additional 9,075 shares in the last quarter. PFG Advisors bought a new stake in Generation Bio in the 1st quarter worth approximately $41,000. The Manufacturers Life Insurance Company grew its position in Generation Bio by 8.7% during the second quarter. The Manufacturers Life Insurance Company now owns 164,573 shares of the company's stock valued at $464,000 after acquiring an additional 13,104 shares during the last quarter. Finally, Artal Group S.A. raised its stake in shares of Generation Bio by 0.6% during the first quarter. Artal Group S.A. now owns 2,830,591 shares of the company's stock worth $11,521,000 after acquiring an additional 16,400 shares in the last quarter. Hedge funds and other institutional investors 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.