Generate Biomedicines (NASDAQ:GENB) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Generate Biomedicines (NASDAQ:GENB) posted its quarterly earnings data on Thursday. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.04), FiscalAI reports. The company had revenue of $6.31 million for the quarter.

Generate Biomedicines Trading Up 3.3%

NASDAQ:GENB traded up $0.46 during trading hours on Friday, reaching $14.35. The stock had a trading volume of 505,792 shares, compared to its average volume of 506,510. Generate Biomedicines has a 12-month low of $11.00 and a 12-month high of $18.18. The stock has a 50 day moving average of $14.45. The firm has a market capitalization of $1.84 billion and a PE ratio of -13.41.

Analyst Ratings Changes

Several brokerages recently weighed in on GENB. HC Wainwright boosted their price objective on shares of Generate Biomedicines from $16.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Morgan Stanley lifted their price objective on shares of Generate Biomedicines from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen cut shares of Generate Biomedicines from a “hold” rating to a “sell” rating in a report on Saturday. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.40.

Hedge Funds Weigh In On Generate Biomedicines

A hedge fund recently bought a new position in Generate Biomedicines stock. Bank of New York Mellon Corp bought a new position in shares of Generate Biomedicines Inc (NASDAQ:GENB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 57,326 shares of the company’s stock, valued at approximately $967,000.

Generate Biomedicines Company Profile

Generate Biomedicines, Inc (NASDAQ: GENB) is a biotechnology company that applies machine learning and generative artificial intelligence to the design and discovery of novel therapeutics. The company develops computational platforms to create and optimize protein sequences and biological molecules with the goal of producing new medicines across a range of modalities. Its core activities center on algorithm-driven design, iterative experimental validation, and the translation of computational outputs into candidate therapeutic molecules.

Generate’s technology combines advanced computational models with high-throughput laboratory methods to accelerate discovery and improve the likelihood of producing viable drug candidates.