Bank of New York Mellon Corp Buys 44,378 Shares of Generation Bio Co. (NASDAQ:GBIO)

Bank of New York Mellon Corp boosted its stake in Generation Bio Co. (NASDAQ:GBIO) by 31.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,756 shares of the company’s stock after acquiring an additional 44,378 shares during the period. Bank of New York Mellon Corp’s holdings in Generation Bio were worth $527,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. PFG Advisors bought a new stake in Generation Bio in the first quarter valued at approximately $41,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Generation Bio in the first quarter valued at approximately $74,000. Weiss Asset Management LP bought a new stake in Generation Bio in the fourth quarter valued at approximately $135,000. Yiheng Capital Management L.P. bought a new stake in Generation Bio in the first quarter valued at approximately $780,000. Finally, Baker BROS. Advisors LP acquired a new position in Generation Bio in the first quarter valued at approximately $1,511,000. 95.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GBIO shares. Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Generation Bio in a research note on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of Generation Bio in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.50.

Generation Bio Price Performance

Shares of Generation Bio stock opened at $2.63 on Wednesday. Generation Bio Co. has a 1 year low of $0.86 and a 1 year high of $4.65. The firm has a market cap of $174.97 million, a PE ratio of -1.03 and a beta of 2.81. The stock has a fifty day moving average price of $2.68 and a 200-day moving average price of $2.99.

Generation Bio (NASDAQ:GBIO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.04). The firm had revenue of $4.09 million for the quarter, compared to the consensus estimate of $3.23 million. Generation Bio had a negative return on equity of 92.86% and a negative net margin of 1,202.56%. As a group, equities analysts anticipate that Generation Bio Co. will post -1.8 EPS for the current fiscal year.

Generation Bio 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.