Generate Biomedicines (NASDAQ:GENB) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Generate Biomedicines (NASDAQ:GENB) from a hold rating to a sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Other equities research analysts have also issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Generate Biomedicines in a research note on Tuesday, September 8th. Weiss Ratings assumed coverage on Generate Biomedicines in a research report on Tuesday, August 11th. They issued a “sell (d)” rating on the stock. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.40.

Generate Biomedicines Price Performance

Shares of NASDAQ:GENB opened at $16.00 on Friday. The stock has a market capitalization of $2.05 billion and a P/E ratio of -10.06. Generate Biomedicines has a 1-year low of $11.00 and a 1-year high of $22.67. The firm’s 50 day moving average price is $15.12.

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 analysts’ consensus estimates of ($0.48) by ($0.04). The firm had revenue of $6.31 million for the quarter. As a group, research analysts expect that Generate Biomedicines will post -2.29 EPS for the current year.

Hedge Funds Weigh In On Generate Biomedicines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Braidwell LP purchased a new position in Generate Biomedicines during the second quarter valued at $55,398,000. The Manufacturers Life Insurance Company purchased a new stake in Generate Biomedicines in the 2nd quarter worth $1,431,000. Bank of New York Mellon Corp purchased a new stake in Generate Biomedicines in the 2nd quarter worth $967,000. Squarepoint Ops LLC bought a new position in shares of Generate Biomedicines during the 2nd quarter valued at about $530,000. Finally, AXQ Capital LP purchased a new position in shares of Generate Biomedicines during the second quarter valued at about $218,000.

Generate Biomedicines Company Profile

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.