Short Interest in Generation Bio Co. (NASDAQ:GBIO) Declines By 6.1%

Generation Bio Co. (NASDAQ:GBIO) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 2,010,000 shares, a decline of 6.1% from the September 15th total of 2,140,000 shares. Approximately 4.1% of the shares of the stock are sold short. Based on an average daily volume of 104,700 shares, the short-interest ratio is currently 19.2 days.

Hedge Funds Weigh In On Generation Bio

Several hedge funds have recently bought and sold shares of GBIO. Rhumbline Advisers boosted its stake in shares of Generation Bio by 7.4% during the second quarter. Rhumbline Advisers now owns 78,903 shares of the company’s stock valued at $222,000 after acquiring an additional 5,430 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Generation Bio by 91.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 19,046 shares of the company’s stock worth $54,000 after purchasing an additional 9,075 shares during the last quarter. PFG Advisors purchased a new stake in shares of Generation Bio during the first quarter worth about $41,000. The Manufacturers Life Insurance Company raised its position in shares of Generation Bio by 8.7% in the second quarter. The Manufacturers Life Insurance Company now owns 164,573 shares of the company’s stock valued at $464,000 after buying an additional 13,104 shares during the last quarter. Finally, Artal Group S.A. lifted its stake in shares of Generation Bio by 0.6% during the first quarter. Artal Group S.A. now owns 2,830,591 shares of the company’s stock valued at $11,521,000 after buying an additional 16,400 shares during the period. Hedge funds and other institutional investors own 95.22% of the company’s stock.

Generation Bio Stock Down 6.1 %

Shares of GBIO stock opened at $2.31 on Friday. Generation Bio has a fifty-two week low of $0.86 and a fifty-two week high of $4.65. The business has a fifty day simple moving average of $2.49 and a 200-day simple moving average of $2.89. The stock has a market cap of $153.68 million, a P/E ratio of -0.91 and a beta of 2.80.

Generation Bio (NASDAQ:GBIO) last announced its earnings results on Wednesday, August 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). The business had revenue of $4.09 million for the quarter, compared to analyst estimates of $3.23 million. Generation Bio had a negative return on equity of 92.86% and a negative net margin of 1,202.56%. On average, sell-side analysts anticipate that Generation Bio will post -1.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GBIO. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of Generation Bio in a report on Thursday, August 8th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Generation Bio in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Generation Bio currently has a consensus rating of “Hold” and an average price target of $7.50.

Generation Bio Company Profile

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.