Generate Biomedicines (NASDAQ:GENB) Stock Rating Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Generate Biomedicines from “Sell” to “Hold.” Despite the change, analyst sentiment remains a “Moderate Buy,” with six Buy ratings, one Hold, and one Sell, and a consensus price target of $26.40.
• GENB shares opened at $15.15, while the company reported a quarterly loss of $0.52 per share, missing estimates by $0.04, and revenue of $6.31 million.
• Institutional interest increased in the second quarter, led by a new $55.4 million stake from Braidwell LP and an $8.9 million position from State Street.

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

A number of other brokerages have also recently weighed in on GENB. HC Wainwright reissued a "buy" rating and set a $30.00 price objective on shares of Generate Biomedicines in a report on Tuesday, September 8th. Weiss Ratings began coverage on Generate Biomedicines in a research note on Tuesday, August 11th. They issued a "sell (d)" rating for the company. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Generate Biomedicines has a consensus rating of "Moderate Buy" and a consensus price target of $26.40.

Generate Biomedicines Price Performance

Shares of GENB opened at $15.15 on Friday. The firm's 50 day simple moving average is $15.46 and its 200 day simple moving average is $14.29. The company has a market capitalization of $1.94 billion and a P/E ratio of -9.53. 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 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 analysts anticipate that Generate Biomedicines will post -2.29 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Braidwell LP purchased a new stake in shares of Generate Biomedicines in the 2nd quarter worth about $55,398,000. State Street Corp purchased a new position in shares of Generate Biomedicines during the second quarter valued at about $8,883,000. The Manufacturers Life Insurance Company bought a new position in Generate Biomedicines in the second quarter worth about $1,431,000. Bank of New York Mellon Corp bought a new position in Generate Biomedicines in the second quarter worth about $967,000. Finally, Squarepoint Ops LLC purchased a new stake in Generate Biomedicines in the second quarter worth about $530,000.

About Generate Biomedicines

Generate Biomedicines is a biotechnology company that uses generative artificial intelligence and machine learning to discover and design protein-based medicines. Its technology is intended to model relationships among protein sequences, structures and biological functions, helping researchers create therapeutic proteins with desired characteristics.

The company's research activities are focused on developing novel biologic medicines for areas of significant unmet medical need, including oncology, immunology, infectious diseases and rare diseases.

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