Wedbush Reiterates Outperform Rating for Generation Bio (NASDAQ:GBIO)

Wedbush reaffirmed their outperform rating on shares of Generation Bio (NASDAQ:GBIO) in a research note published on Friday morning,RTT News reports. They currently have a $5.00 price target on the stock.

Separately, Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of Generation Bio in a report on Friday.

Generation Bio Stock Performance

NASDAQ:GBIO opened at $0.48 on Friday. The firm’s 50-day moving average is $0.74 and its 200-day moving average is $1.51. Generation Bio has a 52-week low of $0.47 and a 52-week high of $4.65. The company has a market cap of $32.06 million, a price-to-earnings ratio of -0.22 and a beta of 2.72.

Generation Bio (NASDAQ:GBIO) last posted its quarterly earnings data on Wednesday, March 19th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.01). Generation Bio had a negative return on equity of 104.85% and a negative net margin of 782.86%. The company had revenue of $4.19 million for the quarter, compared to the consensus estimate of $2.92 million. Equities analysts predict that Generation Bio will post -1.75 EPS for the current year.

Insider Activity

In other Generation Bio news, Director Anthony G. Quinn bought 125,791 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were acquired at an average cost of $0.96 per share, for a total transaction of $120,759.36. Following the transaction, the director now owns 214,286 shares in the company, valued at approximately $205,714.56. The trade was a 142.14 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 21.10% of the stock is owned by company insiders.

Institutional Trading of Generation Bio

Several institutional investors have recently made changes to their positions in GBIO. Charles Schwab Investment Management Inc. boosted its position in Generation Bio by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 423,299 shares of the company’s stock valued at $1,046,000 after buying an additional 8,692 shares in the last quarter. FMR LLC boosted its position in Generation Bio by 0.3% in the third quarter. FMR LLC now owns 5,320,266 shares of the company’s stock valued at $13,141,000 after buying an additional 15,656 shares in the last quarter. Baker BROS. Advisors LP boosted its position in Generation Bio by 61.1% in the third quarter. Baker BROS. Advisors LP now owns 1,944,945 shares of the company’s stock valued at $4,804,000 after buying an additional 737,988 shares in the last quarter. State Street Corp boosted its position in Generation Bio by 1.2% in the third quarter. State Street Corp now owns 992,188 shares of the company’s stock valued at $2,451,000 after buying an additional 11,669 shares in the last quarter. Finally, Barclays PLC boosted its position in Generation Bio by 165.5% in the third quarter. Barclays PLC now owns 76,430 shares of the company’s stock valued at $189,000 after buying an additional 47,639 shares in the last quarter. 95.22% of the stock is currently owned by institutional investors and hedge funds.

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.