Generate Biomedicines Inc (NASDAQ:GENB) Stock Has Average Price Target of $26.40 According to Brokerages

Generate Biomedicines Inc (NASDAQ:GENB) has been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $26.40.

A number of research analysts have issued reports on the company. Wall Street Zen cut Generate Biomedicines from a “hold” rating to a “sell” rating in a research note on Saturday. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Generate Biomedicines in a research report on Monday, October 5th. Finally, Weiss Ratings raised Generate Biomedicines from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 25th.

Generate Biomedicines Trading Down 7.4%

Shares of GENB stock traded down $0.97 on Friday, hitting $12.09. The stock had a trading volume of 1,074,690 shares, compared to its average volume of 1,158,870. Generate Biomedicines has a twelve month low of $11.00 and a twelve month high of $22.67. The firm has a market cap of $1.55 billion and a P/E ratio of -7.60. The company has a fifty day moving average price of $15.42 and a two-hundred day moving average price of $14.43.

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

Institutional Trading of Generate Biomedicines

A number of large investors have recently bought and sold shares of GENB. Susquehanna International Group LLP bought a new position in Generate Biomedicines in the second quarter valued at approximately $196,000. AXQ Capital LP bought a new stake in shares of Generate Biomedicines during the second quarter worth $218,000. Squarepoint Ops LLC acquired a new stake in shares of Generate Biomedicines during the second quarter worth $530,000. Bank of New York Mellon Corp acquired a new stake in shares of Generate Biomedicines during the second quarter worth $967,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Generate Biomedicines in the 2nd quarter valued at $1,431,000.

About Generate Biomedicines

Generate Biomedicines is a biotechnology company focused on discovering and developing protein-based medicines. The company uses generative artificial intelligence, machine learning and laboratory-based biological research to design new therapeutic proteins and identify candidates with potential applications in a range of diseases.

Its platform, often described as a generative biology approach, is designed to model biological systems and create proteins with desired characteristics rather than relying solely on modifying naturally occurring molecules.