Needham & Company LLC Lowers Generation Bio (NASDAQ:GBIO) Price Target to $8.00

Generation Bio (NASDAQ:GBIO) had its price target decreased by research analysts at Needham & Company LLC from $10.00 to $8.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Separately, Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Generation Bio in a research report on Thursday, November 7th.

Generation Bio Stock Down 12.5 %

NASDAQ:GBIO opened at $0.91 on Wednesday. The company has a market cap of $60.79 million, a price-to-earnings ratio of -0.42 and a beta of 2.72. The company has a fifty day simple moving average of $1.41 and a two-hundred day simple moving average of $2.17. Generation Bio has a 52 week low of $0.75 and a 52 week high of $4.65.

Institutional Investors Weigh In On Generation Bio

A number of large investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of Generation Bio by 31.2% during the second quarter. Bank of New York Mellon Corp now owns 186,756 shares of the company’s stock worth $527,000 after purchasing an additional 44,378 shares in the last quarter. Rhumbline Advisers lifted its holdings in Generation Bio by 7.4% during the 2nd quarter. Rhumbline Advisers now owns 78,903 shares of the company’s stock worth $222,000 after buying an additional 5,430 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Generation Bio by 23.9% during the 2nd quarter. Acadian Asset Management LLC now owns 594,569 shares of the company’s stock worth $1,675,000 after acquiring an additional 114,734 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Generation Bio by 199.3% in the 2nd quarter. American Century Companies Inc. now owns 31,786 shares of the company’s stock valued at $90,000 after acquiring an additional 21,167 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position 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 acquiring an additional 9,075 shares in the last quarter. 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.