Generation Bio’s (GBIO) Buy Rating Reiterated at Canaccord Genuity Group

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

Several other research firms have also weighed in on GBIO. Needham & Company LLC restated a “buy” rating and issued a $8.00 target price on shares of Generation Bio in a report on Friday. Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of Generation Bio in a report on Friday.

Generation Bio Stock Performance

Shares of NASDAQ GBIO traded up $0.00 during trading hours on Monday, hitting $0.48. The stock had a trading volume of 207,252 shares, compared to its average volume of 244,617. The company has a market capitalization of $32.33 million, a P/E ratio of -0.22 and a beta of 2.72. The firm’s 50-day moving average price is $0.74 and its two-hundred day moving average price is $1.51. Generation Bio has a 52 week low of $0.47 and a 52 week high of $4.65.

Generation Bio (NASDAQ:GBIO) last announced 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). The firm had revenue of $4.19 million during 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%. As a group, analysts expect that Generation Bio will post -1.75 EPS for the current fiscal year.

Insider Transactions at Generation Bio

In other Generation Bio news, Director Anthony G. Quinn acquired 125,791 shares of Generation Bio stock in a transaction dated Friday, January 10th. The stock was bought at an average cost of $0.96 per share, with a total value of $120,759.36. Following the acquisition, the director now owns 214,286 shares of the company’s stock, valued at approximately $205,714.56. The trade was a 142.14 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 21.10% of the company’s stock.

Hedge Funds Weigh In On Generation Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its holdings 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 acquiring an additional 15,656 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Generation Bio during the 4th quarter worth about $2,398,000. Baker BROS. Advisors LP increased 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 in the last quarter. State Street Corp increased 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 in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Generation Bio by 62.0% during the 4th quarter. Renaissance Technologies LLC now owns 962,959 shares of the company’s stock worth $1,021,000 after purchasing an additional 368,659 shares in the last quarter. 95.22% of the stock is owned by institutional investors.

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.