Generation Bio (NASDAQ:GBIO) Price Target Raised to $10.00

Generation Bio (NASDAQ:GBIO) had its price objective increased by Canaccord Genuity Group from $9.00 to $10.00 in a research note published on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of Generation Bio in a research note on Wednesday, August 13th. Wall Street Zen lowered Generation Bio from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Finally, Wedbush lowered Generation Bio from an “outperform” rating to a “neutral” rating and set a $7.00 target price for the company. in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.67.

Generation Bio Trading Down 2.2%

Shares of NASDAQ:GBIO opened at $6.25 on Monday. The stock’s fifty day simple moving average is $4.30 and its two-hundred day simple moving average is $4.58. Generation Bio has a 1-year low of $3.00 and a 1-year high of $29.40. The stock has a market cap of $42.13 million, a PE ratio of -0.58 and a beta of 2.67.

Generation Bio (NASDAQ:GBIO) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($3.12) earnings per share for the quarter, missing the consensus estimate of ($2.80) by ($0.32). Generation Bio had a negative net margin of 341.12% and a negative return on equity of 91.07%. The company had revenue of $0.77 million for the quarter, compared to the consensus estimate of $2.51 million. On average, sell-side analysts forecast that Generation Bio will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Generation Bio

Several large investors have recently added to or reduced their stakes in GBIO. Jacobs Levy Equity Management Inc. boosted its stake in Generation Bio by 13.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 311,535 shares of the company’s stock worth $330,000 after purchasing an additional 38,090 shares during the period. Squarepoint Ops LLC bought a new position in Generation Bio in the 4th quarter worth about $70,000. Integrated Wealth Concepts LLC bought a new position in Generation Bio in the 4th quarter worth about $77,000. Aegis Wealth Management LLC bought a new position in Generation Bio in the 4th quarter worth about $94,000. Finally, AQR Capital Management LLC bought a new position in Generation Bio in the 1st quarter worth about $36,000. Hedge funds and other institutional investors own 95.22% of the company’s stock.

About Generation Bio

Generation Bio Co develops non-viral genetic medicines for the treatment of rare and prevalent diseases. The company develops cell-targeted lipid nanoparticle (ctLNP) platform, a modular delivery system for nucleic acids to avoid off-target clearance by the liver and spleen that enables ctLNPs to persist in systemic circulation, which allows for highly selective and potent ligand-driven targeting to specific tissues and cell types; and novel immune-quiet DNA (iqDNA) to enable long-lasting high levels of gene expression from non-integrating episomes and avoids innate immune sensors that have long prevented DNA from use in non-viral systems.