Braidwell LP Purchases New Shares in Generate Biomedicines Inc $GENB

Key Points

• Braidwell LP acquired 3.28 million Generate Biomedicines shares worth approximately $55.4 million, giving it a 2.56% stake and making GENB its 14th-largest portfolio holding.
• Analyst sentiment is generally positive: six analysts rate GENB a Buy, one rates it Hold and one Sell, resulting in a “Moderate Buy” consensus and a $26.40 average price target.
• GENB shares opened at $16.28 after rising 3.1%, while the company reported a quarterly loss of $0.52 per share—worse than the $0.48 consensus estimate—and revenue of $6.31 million.

Braidwell LP acquired a new stake in shares of Generate Biomedicines Inc (NASDAQ:GENB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,283,844 shares of the company's stock, valued at approximately $55,398,000. Generate Biomedicines comprises 2.1% of Braidwell LP's investment portfolio, making the stock its 14th biggest holding. Braidwell LP owned 2.56% of Generate Biomedicines as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Bank of New York Mellon Corp purchased a new stake in shares of Generate Biomedicines during the 2nd quarter valued at about $967,000.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GENB shares. Weiss Ratings began coverage on Generate Biomedicines in a research note on Tuesday, August 11th. They set a "sell (d)" rating on the stock. Wall Street Zen upgraded Generate Biomedicines from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. HC Wainwright boosted their target price on Generate Biomedicines from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, August 28th. Finally, Morgan Stanley increased their price target on Generate Biomedicines from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Thursday, May 14th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Generate Biomedicines presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.40.

Generate Biomedicines Stock Up 3.1%

Shares of NASDAQ:GENB opened at $16.28 on Thursday. Generate Biomedicines Inc has a 1 year low of $11.00 and a 1 year high of $22.67. The company's 50 day simple moving average is $15.27. The stock has a market capitalization of $2.09 billion and a price-to-earnings ratio of -10.24.

Generate Biomedicines (NASDAQ:GENB - Get Free Report) last issued its quarterly 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 during the quarter. Analysts expect that Generate Biomedicines Inc will post -2.29 earnings per share for the current fiscal year.

Generate Biomedicines 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source