Generate Biomedicines (NASDAQ:GENB) Issues Earnings Results, Misses Expectations By $0.18 EPS

Generate Biomedicines (NASDAQ:GENB) released its quarterly earnings data on Thursday. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.18), FiscalAI reports. The business had revenue of $4.22 million for the quarter.

Generate Biomedicines Price Performance

Shares of GENB stock traded down $0.98 during mid-day trading on Thursday, hitting $12.51. 1,135,090 shares of the stock traded hands, compared to its average volume of 862,306. Generate Biomedicines has a 52-week low of $11.00 and a 52-week high of $22.67. The stock has a market cap of $1.61 billion and a P/E ratio of -7.86. The stock’s fifty day moving average is $14.51 and its two-hundred day moving average is $14.13.

Wall Street Analyst Weigh In

Several research firms have commented on GENB. Wall Street Zen downgraded Generate Biomedicines from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Weiss Ratings upgraded Generate Biomedicines from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 25th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Generate Biomedicines in a research note on Friday, October 30th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Generate Biomedicines currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.40.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Susquehanna International Group LLP acquired a new stake in Generate Biomedicines in the second quarter valued at approximately $196,000. AXQ Capital LP purchased a new stake in shares of Generate Biomedicines during the 2nd quarter valued at $218,000. Summa Corp. purchased a new stake in shares of Generate Biomedicines during the 3rd quarter valued at $250,000. Magnus Financial Group LLC boosted its position in shares of Generate Biomedicines by 39.4% in the 3rd quarter. Magnus Financial Group LLC now owns 21,750 shares of the company’s stock worth $327,000 after purchasing an additional 6,150 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Generate Biomedicines during the 2nd quarter worth $530,000.

Generate Biomedicines Company Profile

Generate Biomedicines is a biotechnology company that uses generative artificial intelligence and experimental biology to design and develop medicines. Founded in 2018 by Flagship Pioneering, the company is based in Somerville, Massachusetts. Its platform is designed to create new proteins with potential therapeutic applications, including antibodies and other biologic medicines. Generate is advancing a drug-development pipeline across areas such as immunology and oncology; one of its candidates, GB-0895, is being developed for asthma.