The Manufacturers Life Insurance Company Acquires Shares of 84,803 Generate Biomedicines Inc $GENB

The Manufacturers Life Insurance Company bought a new position in Generate Biomedicines Inc (NASDAQ:GENB) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 84,803 shares of the company’s stock, valued at approximately $1,431,000.

Several other large investors have also recently modified their holdings of GENB. Braidwell LP purchased a new stake in Generate Biomedicines during the 2nd quarter valued at $55,398,000. Bank of New York Mellon Corp purchased a new position in Generate Biomedicines during the second quarter worth $967,000. California State Teachers Retirement System bought a new position in Generate Biomedicines during the second quarter valued at $96,000. Squarepoint Ops LLC bought a new position in Generate Biomedicines during the second quarter valued at $530,000. Finally, AXQ Capital LP purchased a new stake in shares of Generate Biomedicines in the second quarter valued at $218,000.

Generate Biomedicines Trading Up 1.8%

Shares of NASDAQ:GENB opened at $16.00 on Tuesday. The stock’s 50 day moving average is $15.12. Generate Biomedicines Inc has a one year low of $11.00 and a one year high of $22.67. The stock has a market capitalization of $2.05 billion and a price-to-earnings ratio of -10.06.

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

Wall Street Analysts Forecast Growth

GENB has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Generate Biomedicines in a research note on Tuesday, September 8th. Wall Street Zen lowered shares of Generate Biomedicines from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings assumed coverage on Generate Biomedicines in a research report on Tuesday, August 11th. They set a “sell (d)” rating for the company. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.40.

About Generate Biomedicines

Generate Biomedicines is a biotechnology company that uses generative artificial intelligence and machine learning to discover and design protein-based medicines. Its technology is intended to model relationships among protein sequences, structures and biological functions, helping researchers create therapeutic proteins with desired characteristics.

The company’s research activities are focused on developing novel biologic medicines for areas of significant unmet medical need, including oncology, immunology, infectious diseases and rare diseases.