Generation Bio (NASDAQ:GBIO) Earns Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Generation Bio (NASDAQ:GBIO) in a research report released on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a $9.00 target price on the stock.

GBIO has been the subject of a number of other reports. Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of Generation Bio in a report on Friday. Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Generation Bio in a report on Friday.

Generation Bio Price Performance

Generation Bio stock opened at $0.53 on Monday. The firm’s 50 day moving average price is $0.73 and its 200-day moving average price is $1.50. Generation Bio has a 1 year low of $0.47 and a 1 year high of $4.65. The stock has a market cap of $35.40 million, a P/E ratio of -0.24 and a beta of 2.72.

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

Insiders Place Their Bets

In other news, Director Anthony G. Quinn acquired 85,000 shares of the company’s stock in a transaction on Monday, January 13th. The stock was bought at an average cost of $0.97 per share, with a total value of $82,450.00. Following the completion of the purchase, the director now directly owns 299,286 shares of the company’s stock, valued at $290,307.42. This represents a 39.67 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 21.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp boosted its stake in Generation Bio by 1.2% during the third quarter. State Street Corp now owns 992,188 shares of the company’s stock worth $2,451,000 after buying an additional 11,669 shares during the period. Baker BROS. Advisors LP lifted its position in shares of Generation Bio by 61.1% during the third quarter. Baker BROS. Advisors LP now owns 1,944,945 shares of the company’s stock worth $4,804,000 after purchasing an additional 737,988 shares during the last quarter. Barclays PLC lifted its position in shares of Generation Bio by 165.5% during the third quarter. Barclays PLC now owns 76,430 shares of the company’s stock worth $189,000 after purchasing an additional 47,639 shares during the last quarter. FMR LLC lifted its position in shares of Generation Bio by 0.3% during the third quarter. FMR LLC now owns 5,320,266 shares of the company’s stock worth $13,141,000 after purchasing an additional 15,656 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Generation Bio during the fourth quarter worth $2,398,000. 95.22% of the stock is owned by hedge funds and other institutional investors.

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.