Needham & Company LLC Reaffirms Buy Rating for Generation Bio (NASDAQ:GBIO)

Generation Bio (NASDAQ:GBIO)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They presently have a $8.00 target price on the stock.

Generation Bio Stock Down 6.3 %

Generation Bio stock opened at $0.48 on Friday. Generation Bio has a 12 month low of $0.47 and a 12 month high of $4.65. The company’s fifty day simple moving average is $0.74 and its 200-day simple moving average is $1.52. The stock has a market cap of $32.06 million, a P/E ratio of -0.22 and a beta of 2.72.

Generation Bio (NASDAQ:GBIO) last issued its earnings results on Wednesday, March 19th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.01). The firm had revenue of $4.19 million during the quarter, compared to analyst estimates of $2.92 million. Generation Bio had a negative return on equity of 104.85% and a negative net margin of 782.86%. On average, equities research analysts expect that Generation Bio will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Generation Bio news, Director Anthony G. Quinn acquired 85,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was purchased at an average cost of $0.97 per share, for a total transaction of $82,450.00. Following the completion of the acquisition, the director now owns 299,286 shares of the company’s stock, valued at approximately $290,307.42. This trade represents a 39.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 21.10% of the company’s stock.

Institutional Trading of Generation Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jefferies Financial Group Inc. bought a new position in shares of Generation Bio in the 4th quarter valued at approximately $2,398,000. Baker BROS. Advisors LP lifted its stake in shares of Generation Bio by 61.1% in the third quarter. Baker BROS. Advisors LP now owns 1,944,945 shares of the company’s stock worth $4,804,000 after buying an additional 737,988 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Generation Bio by 62.0% during the 4th quarter. Renaissance Technologies LLC now owns 962,959 shares of the company’s stock worth $1,021,000 after buying an additional 368,659 shares during the period. Deutsche Bank AG grew its stake in Generation Bio by 688.7% in the 4th quarter. Deutsche Bank AG now owns 184,173 shares of the company’s stock valued at $195,000 after buying an additional 160,822 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Generation Bio by 74.9% in the 4th quarter. JPMorgan Chase & Co. now owns 297,705 shares of the company’s stock worth $316,000 after acquiring an additional 127,513 shares during the period. Institutional investors and hedge funds own 95.22% of the company’s stock.

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.