Generate Biomedicines’ (GENB) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Generate Biomedicines (NASDAQ:GENB) in a research note published on Tuesday,Benzinga reports. The firm currently has a $30.00 price objective on the stock.

A number of other research analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of Generate Biomedicines from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Weiss Ratings assumed coverage on shares of Generate Biomedicines in a research note on Tuesday, August 11th. They issued a “sell (d)” rating for the company. Finally, Morgan Stanley increased their target price on shares of Generate Biomedicines from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.40.

Generate Biomedicines Stock Performance

Shares of GENB opened at $15.39 on Tuesday. The company has a market capitalization of $1.98 billion and a PE ratio of -9.68. Generate Biomedicines has a 1 year low of $11.00 and a 1 year high of $22.67. The stock’s 50-day moving average is $15.18.

Generate Biomedicines (NASDAQ:GENB) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). The firm had revenue of $6.31 million during the quarter. Equities analysts expect that Generate Biomedicines will post -2.29 earnings per share for the current fiscal year.

Institutional Trading of Generate Biomedicines

A number of institutional investors have recently modified their holdings of the company. Braidwell LP bought a new position in shares of Generate Biomedicines during the second quarter worth about $55,398,000. Susquehanna International Group LLP acquired a new position in Generate Biomedicines during the 2nd quarter worth approximately $196,000. California State Teachers Retirement System acquired a new position in Generate Biomedicines during the 2nd quarter worth approximately $96,000. The Manufacturers Life Insurance Company bought a new position in shares of Generate Biomedicines during the 2nd quarter worth approximately $1,431,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Generate Biomedicines in the second quarter valued at approximately $530,000.

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.