39,866 Generate Biomedicines Inc $GENB Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in Generate Biomedicines Inc (NASDAQ:GENB) by 103.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,531 shares of the company’s stock after acquiring an additional 39,866 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.06% of Generate Biomedicines worth $1,180,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Susquehanna International Group LLP bought a new position in Generate Biomedicines during the second quarter valued at approximately $196,000. AXQ Capital LP bought a new stake in Generate Biomedicines in the 2nd quarter worth approximately $218,000. Magnus Financial Group LLC raised its stake in Generate Biomedicines by 39.4% during the 3rd quarter. Magnus Financial Group LLC now owns 21,750 shares of the company’s stock valued at $327,000 after buying an additional 6,150 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Generate Biomedicines during the 2nd quarter valued at $530,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Generate Biomedicines during the 2nd quarter valued at $967,000.

Generate Biomedicines Trading Up 3.9%

GENB opened at $13.06 on Friday. Generate Biomedicines Inc has a 12-month low of $11.00 and a 12-month high of $22.67. The company has a market cap of $1.68 billion and a price-to-earnings ratio of -8.21. The company’s 50 day moving average is $14.61 and its 200 day moving average is $14.14.

Generate Biomedicines (NASDAQ:GENB) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.04). The business had revenue of $6.31 million for the quarter. As a group, analysts predict that Generate Biomedicines Inc will post -2.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GENB has been the topic of a number of research reports. HC Wainwright restated a “buy” rating on shares of Generate Biomedicines in a research note on Friday, October 30th. Weiss Ratings upgraded Generate Biomedicines from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Finally, Wall Street Zen downgraded Generate Biomedicines from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.40.

About Generate Biomedicines

Generate Biomedicines is a biotechnology company that uses generative artificial intelligence, machine learning and protein engineering to design novel protein-based medicines. Its platform is intended to identify and develop therapeutic proteins with desired biological properties, potentially shortening the time required to discover new drug candidates.

The company’s research activities focus on applying computational biology and laboratory experimentation to create medicines for a range of diseases, including conditions in immunology, inflammation, oncology and other areas of significant unmet medical need.