Generation Bio Co. (NASDAQ:GBIO) Short Interest Up 67.3% in May

Generation Bio Co. (NASDAQ:GBIO) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 1,890,000 shares, an increase of 67.3% from the April 30th total of 1,130,000 shares. Based on an average daily volume of 484,600 shares, the days-to-cover ratio is presently 3.9 days. Approximately 4.1% of the company’s shares are short sold.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and set a $5.00 price objective on shares of Generation Bio in a research report on Friday, March 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $9.00 target price on shares of Generation Bio in a research report on Monday, March 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of Generation Bio in a research report on Thursday, May 8th.

Institutional Trading of Generation Bio

A number of hedge funds have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. acquired a new position in shares of Generation Bio during the fourth quarter valued at about $2,398,000. Acadian Asset Management LLC increased its holdings in Generation Bio by 54.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,159,135 shares of the company’s stock worth $468,000 after buying an additional 407,843 shares during the period. Renaissance Technologies LLC increased its holdings in Generation Bio by 62.0% in the 4th quarter. Renaissance Technologies LLC now owns 962,959 shares of the company’s stock worth $1,021,000 after buying an additional 368,659 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Generation Bio by 13.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 311,535 shares of the company’s stock worth $330,000 after purchasing an additional 38,090 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Generation Bio by 74.9% in the 4th quarter. JPMorgan Chase & Co. now owns 297,705 shares of the company’s stock worth $316,000 after purchasing an additional 127,513 shares in the last quarter. 95.22% of the stock is owned by hedge funds and other institutional investors.

Generation Bio Price Performance

Shares of NASDAQ:GBIO traded up $0.01 during trading on Monday, hitting $0.39. The company’s stock had a trading volume of 472,950 shares, compared to its average volume of 311,150. The company has a 50-day moving average of $0.39 and a 200-day moving average of $0.74. Generation Bio has a 12 month low of $0.32 and a 12 month high of $3.65. The firm has a market cap of $25.94 million, a price-to-earnings ratio of -0.18 and a beta of 2.76.

Generation Bio (NASDAQ:GBIO) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.03. Generation Bio had a negative net margin of 782.86% and a negative return on equity of 104.85%. The company had revenue of $8.72 million for the quarter, compared to analysts’ expectations of $1.70 million. As a group, research analysts anticipate that Generation Bio will post -1.75 earnings per share for the current year.

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.