Generation Bio (NASDAQ:GBIO) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Generation Bio (NASDAQ:GBIO) in a research report report published on Friday morning,Benzinga reports. Needham & Company LLC currently has a $8.00 price target on the stock.

Generation Bio Stock Performance

Shares of GBIO stock opened at $0.48 on Friday. Generation Bio has a one year low of $0.47 and a one year high of $4.65. The company’s 50-day simple moving average is $0.74 and its 200-day simple moving average is $1.51. The stock has a market capitalization of $32.06 million, a price-to-earnings ratio of -0.22 and a beta of 2.72.

Generation Bio (NASDAQ:GBIO) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.01). Generation Bio had a negative return on equity of 104.85% and a negative net margin of 782.86%. The company had revenue of $4.19 million for the quarter, compared to the consensus estimate of $2.92 million. As a group, research analysts forecast that Generation Bio will post -1.75 EPS for the current year.

Insider Transactions at Generation Bio

In other Generation Bio news, Director Anthony G. Quinn bought 125,791 shares of the business’s stock in a transaction on Friday, January 10th. The shares were purchased at an average price of $0.96 per share, with a total value of $120,759.36. Following the completion of the acquisition, the director now directly owns 214,286 shares of the company’s stock, valued at approximately $205,714.56. The trade was a 142.14 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 21.10% of the company’s stock.

Hedge Funds Weigh In On Generation Bio

Large investors have recently bought and sold shares of the business. Intech Investment Management LLC bought a new position in Generation Bio in the fourth quarter worth about $25,000. Squarepoint Ops LLC bought a new position in Generation Bio in the fourth quarter worth about $70,000. Integrated Wealth Concepts LLC bought a new position in Generation Bio in the fourth quarter worth about $77,000. Barclays PLC lifted its holdings in Generation Bio by 165.5% in the third quarter. Barclays PLC now owns 76,430 shares of the company’s stock worth $189,000 after acquiring an additional 47,639 shares during the last quarter. Finally, Aegis Wealth Management LLC bought a new position in Generation Bio in the fourth quarter worth about $94,000. 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.