Generate Biomedicines Inc (NASDAQ:GENB) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Generate Biomedicines has a “Moderate Buy” consensus rating from eight brokerages, with six buys, one hold and one sell. The average 12-month price target is $26.40, versus the stock’s recent opening price of $16.00.
• Institutional investors recently established significant positions, led by Braidwell LP’s approximately $55.4 million stake acquired during the second quarter.
• The company reported a quarterly loss of $0.52 per share, missing the $0.48 consensus estimate, while generating $6.31 million in revenue. Analysts expect a full-year loss of $2.29 per share.

Generate Biomedicines Inc (NASDAQ:GENB - Get Free Report) has earned an average rating of "Moderate Buy" from the eight brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $26.40.

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and set a $30.00 target price on shares of Generate Biomedicines in a report on Tuesday, September 8th. Weiss Ratings initiated coverage on shares of Generate Biomedicines in a report on Tuesday, August 11th. They issued a "sell (d)" rating on the stock. Finally, Wall Street Zen cut Generate Biomedicines from a "hold" rating to a "sell" rating in a report on Saturday.

Institutional Trading of Generate Biomedicines

Hedge funds have recently added to or reduced their stakes in the company. Braidwell LP acquired a new stake in shares of Generate Biomedicines in the 2nd quarter valued at $55,398,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Generate Biomedicines in the 2nd quarter valued at about $1,431,000. Bank of New York Mellon Corp purchased a new position in shares of Generate Biomedicines during the second quarter worth approximately $967,000. California State Teachers Retirement System acquired a new position in Generate Biomedicines in the 2nd quarter valued at about $96,000. Finally, Squarepoint Ops LLC acquired a new position in Generate Biomedicines in the 2nd quarter valued at $530,000.

Generate Biomedicines Stock Up 1.8%

Shares of GENB opened at $16.00 on Tuesday. The stock has a market capitalization of $2.05 billion and a P/E ratio of -10.06. Generate Biomedicines has a 52 week low of $11.00 and a 52 week high of $22.67. The business has a 50-day moving average of $15.12.

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

Generate Biomedicines Company Profile

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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