Wedbush Reaffirms Outperform Rating for Generation Bio (NASDAQ:GBIO)

Generation Bio (NASDAQ:GBIO)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report released on Friday,RTT News reports. They currently have a $5.00 price target on the stock.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Generation Bio in a research note on Friday.

Generation Bio Stock Performance

NASDAQ GBIO opened at $0.48 on Friday. The stock has a market capitalization of $32.06 million, a P/E ratio of -0.22 and a beta of 2.72. Generation Bio has a 52 week low of $0.47 and a 52 week high of $4.65. The stock has a fifty day moving average of $0.74 and a 200-day moving average of $1.52.

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

Insiders Place Their Bets

In other news, Director Anthony G. Quinn purchased 125,791 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were acquired at an average cost of $0.96 per share, for a total transaction of $120,759.36. Following the transaction, 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 acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 21.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new stake in Generation Bio in the fourth quarter worth $2,398,000. Baker BROS. Advisors LP raised its stake in Generation Bio by 61.1% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,944,945 shares of the company’s stock worth $4,804,000 after buying an additional 737,988 shares during the period. Renaissance Technologies LLC lifted its holdings in Generation Bio by 62.0% during the fourth quarter. Renaissance Technologies LLC now owns 962,959 shares of the company’s stock worth $1,021,000 after acquiring an additional 368,659 shares in the last quarter. Deutsche Bank AG grew its stake in Generation Bio by 688.7% in the fourth quarter. Deutsche Bank AG now owns 184,173 shares of the company’s stock valued at $195,000 after acquiring an additional 160,822 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Generation Bio by 74.9% in the fourth quarter. JPMorgan Chase & Co. now owns 297,705 shares of the company’s stock valued at $316,000 after acquiring an additional 127,513 shares during the period. 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.