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

Generation Bio (NASDAQ:GBIO)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They currently have a $8.00 target price on the stock.

A number of other research firms have also recently commented on GBIO. Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Generation Bio in a report on Friday, March 14th. Canaccord Genuity Group reissued a “buy” rating and issued a $9.00 price target on shares of Generation Bio in a report on Monday, March 17th.

Generation Bio Price Performance

Shares of NASDAQ:GBIO traded down $0.02 during mid-day trading on Thursday, reaching $0.35. 130,046 shares of the company traded hands, compared to its average volume of 270,406. The company’s 50 day moving average price is $0.54 and its 200-day moving average price is $1.24. The firm has a market cap of $23.60 million, a PE ratio of -0.16 and a beta of 2.78. Generation Bio has a 52 week low of $0.32 and a 52 week high of $4.34.

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

Insider Buying and Selling

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

Institutional Trading of Generation Bio

Several hedge funds have recently modified their holdings of the company. Aegis Wealth Management LLC purchased a new stake in shares of Generation Bio during the 4th quarter worth approximately $94,000. Jefferies Financial Group Inc. purchased a new stake in shares of Generation Bio during the 4th quarter worth approximately $2,398,000. Squarepoint Ops LLC purchased a new stake in Generation Bio during the 4th quarter valued at $70,000. Millennium Management LLC purchased a new stake in Generation Bio during the 4th quarter valued at $97,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Generation Bio by 13.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 311,535 shares of the company’s stock valued at $330,000 after buying an additional 38,090 shares during the period. 95.22% of the stock is owned by hedge funds and other institutional investors.

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.