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

Key Points

• Wall Street Zen downgraded Generate Biomedicines to “sell” from “hold,” though broader analyst sentiment remains more favorable, with a consensus “Moderate Buy” rating and an average price target of $26.40.
• GENB opened at $12.09, well below its 52-week high of $22.67, and recently reported a quarterly loss of $0.52 per share versus the $0.48 consensus estimate; analysts forecast a full-year loss of $2.29 per share.
• Several major institutions, including Banque Pictet and State Street, recently established positions in the biotechnology company, which uses generative AI and machine learning to develop protein-based medicines.

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

Several other equities analysts have also recently issued reports on GENB. HC Wainwright reiterated a "buy" rating and issued a $30.00 price target on shares of Generate Biomedicines in a report on Monday, October 5th. Weiss Ratings raised Generate Biomedicines from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, September 25th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $26.40.

Generate Biomedicines Price Performance

Generate Biomedicines stock opened at $12.09 on Friday. Generate Biomedicines has a 52-week low of $11.00 and a 52-week high of $22.67. The stock has a fifty day moving average price of $15.42 and a two-hundred day moving average price of $14.43. The firm has a market capitalization of $1.55 billion and a P/E ratio of -7.60.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GENB. Banque Pictet & Cie SA acquired a new stake in shares of Generate Biomedicines in the third quarter valued at about $26,631,000. State Street Corp acquired a new position in Generate Biomedicines during the second quarter worth approximately $8,883,000. The Manufacturers Life Insurance Company bought a new position in shares of Generate Biomedicines during the 2nd quarter worth approximately $1,431,000. Squarepoint Ops LLC acquired a new stake in Generate Biomedicines during the 2nd quarter valued at $530,000. Finally, AXQ Capital LP acquired a new position in shares of Generate Biomedicines in the second quarter valued at $218,000.

About Generate Biomedicines

Generate Biomedicines is a biotechnology company focused on discovering and developing protein-based medicines. The company uses generative artificial intelligence, machine learning and laboratory-based biological research to design new therapeutic proteins and identify candidates with potential applications in a range of diseases.

Its platform, often described as a generative biology approach, is designed to model biological systems and create proteins with desired characteristics rather than relying solely on modifying naturally occurring molecules.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.