Canaccord Genuity Group Reaffirms “Buy” Rating for Generation Bio (NASDAQ:GBIO)

Generation Bio (NASDAQ:GBIO)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity Group in a report issued on Monday,Benzinga reports. They presently have a $9.00 price target on the stock.

Other equities research analysts have also issued research reports about the company. Wedbush reissued an “outperform” rating and set a $5.00 price target on shares of Generation Bio in a research note on Friday, March 14th. Needham & Company LLC reissued a “buy” rating and set a $8.00 price target on shares of Generation Bio in a research note on Friday, March 14th.

Generation Bio Trading Up 5.7 %

Shares of GBIO opened at $0.56 on Monday. Generation Bio has a twelve month low of $0.47 and a twelve month high of $4.65. The stock’s 50 day moving average is $0.72 and its two-hundred day moving average is $1.48. The firm has a market capitalization of $37.41 million, a PE ratio of -0.26 and a beta of 2.72.

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 analysts’ consensus estimates of ($0.31) by ($0.01). Generation Bio had a negative net margin of 782.86% and a negative return on equity of 104.85%. The business had revenue of $4.19 million during the quarter, compared to analysts’ expectations of $2.92 million. On average, sell-side analysts predict that Generation Bio will post -1.75 EPS for the current year.

Insider Transactions at Generation Bio

In other news, Director Anthony G. Quinn purchased 85,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were acquired at an average price of $0.97 per share, with a total value of $82,450.00. Following the purchase, the director now directly owns 299,286 shares of the company’s stock, valued at $290,307.42. The trade was a 39.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 21.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GBIO. Charles Schwab Investment Management Inc. raised its position in shares of Generation Bio by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,299 shares of the company’s stock worth $1,046,000 after purchasing an additional 8,692 shares during the last quarter. FMR LLC raised its position in shares of Generation Bio by 0.3% during the 3rd quarter. FMR LLC now owns 5,320,266 shares of the company’s stock worth $13,141,000 after purchasing an additional 15,656 shares during the last quarter. Baker BROS. Advisors LP raised its position in shares of 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 purchasing an additional 737,988 shares during the last quarter. State Street Corp raised its position in shares of Generation Bio by 1.2% during the 3rd quarter. State Street Corp now owns 992,188 shares of the company’s stock worth $2,451,000 after purchasing an additional 11,669 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Generation Bio by 165.5% during the 3rd quarter. Barclays PLC now owns 76,430 shares of the company’s stock worth $189,000 after purchasing an additional 47,639 shares during the last quarter. 95.22% of the stock is currently owned by institutional investors and hedge funds.

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.