Generate Biomedicines (NASDAQ:GENB) Lowered to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Generate Biomedicines to “sell” from “hold,” contrasting with HC Wainwright’s “buy” rating and $30 price target. Overall, analysts maintain a “Moderate Buy” consensus with an average target of $26.40.
• GENB opened at $15.72, with a $2.02 billion market capitalization and a 52-week range of $11.00 to $22.67. The company reported a quarterly loss of $0.52 per share, missing estimates by $0.04, on $6.31 million in revenue.
• Several institutional investors initiated positions during the second quarter, including Braidwell LP, which acquired an approximately $55.4 million stake. Generate Biomedicines uses machine learning and generative AI to design and discover potential therapeutics.

Generate Biomedicines (NASDAQ:GENB - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of Generate Biomedicines in a research report on Tuesday. Weiss Ratings began coverage on shares of Generate Biomedicines in a report on Tuesday, August 11th. They set a "sell (d)" rating on the stock. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $26.40.

Generate Biomedicines Price Performance

GENB stock opened at $15.72 on Friday. The company has a 50-day moving average price of $15.14. The company has a market capitalization of $2.02 billion and a P/E ratio of -9.89. Generate Biomedicines has a 1-year low of $11.00 and a 1-year high of $22.67.

Generate Biomedicines (NASDAQ:GENB - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.04). The business had revenue of $6.31 million for the quarter. On average, analysts predict that Generate Biomedicines will post -2.29 EPS for the current year.

Hedge Funds Weigh In On Generate Biomedicines

A number of large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Generate Biomedicines during the second quarter valued at about $1,431,000. Squarepoint Ops LLC bought a new position in shares of Generate Biomedicines during the 2nd quarter worth approximately $530,000. California State Teachers Retirement System purchased a new stake in Generate Biomedicines during the second quarter valued at approximately $96,000. AXQ Capital LP purchased a new stake in Generate Biomedicines during the second quarter valued at approximately $218,000. Finally, Braidwell LP acquired a new stake in Generate Biomedicines in the second quarter valued at approximately $55,398,000.

Generate Biomedicines Company Profile

Generate Biomedicines, Inc NASDAQ: GENB is a biotechnology company that applies machine learning and generative artificial intelligence to the design and discovery of novel therapeutics. The company develops computational platforms to create and optimize protein sequences and biological molecules with the goal of producing new medicines across a range of modalities. Its core activities center on algorithm-driven design, iterative experimental validation, and the translation of computational outputs into candidate therapeutic molecules.

Generate’s technology combines advanced computational models with high-throughput laboratory methods to accelerate discovery and improve the likelihood of producing viable drug candidates.

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