Generation Bio (NASDAQ:GBIO) Price Target Cut to $8.00 by Analysts at Needham & Company LLC

Generation Bio (NASDAQ:GBIOFree Report) had its price target trimmed by Needham & Company LLC from $10.00 to $8.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Wedbush reiterated an “outperform” rating and issued a $5.00 target price on shares of Generation Bio in a research report on Thursday, November 7th.

Get Our Latest Stock Analysis on Generation Bio

Generation Bio Trading Down 12.5 %

Shares of NASDAQ GBIO opened at $0.91 on Wednesday. Generation Bio has a 12-month low of $0.75 and a 12-month high of $4.65. The company has a market cap of $60.79 million, a PE ratio of -0.42 and a beta of 2.72. The stock has a 50 day simple moving average of $1.43 and a 200-day simple moving average of $2.18.

Institutional Trading of Generation Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its stake 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 acquiring an additional 47,639 shares in the last quarter. State Street Corp increased its stake in Generation Bio by 1.2% in 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 in the last quarter. Baker BROS. Advisors LP lifted its stake in Generation Bio by 61.1% during the third quarter. Baker BROS. Advisors LP now owns 1,944,945 shares of the company’s stock valued at $4,804,000 after buying an additional 737,988 shares in the last quarter. FMR LLC boosted its holdings in shares of Generation Bio by 0.3% in the third quarter. FMR LLC now owns 5,320,266 shares of the company’s stock worth $13,141,000 after buying an additional 15,656 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Generation Bio by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 423,299 shares of the company’s stock worth $1,046,000 after acquiring an additional 8,692 shares in the last quarter. 95.22% of the stock is owned by institutional investors and hedge funds.

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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