Generate Biomedicines (NASDAQ:GENB) Shares Up 4.9% - Still a Buy?

Key Points

• Generate Biomedicines shares rose 4.9% to about $16.47, though trading volume was roughly 91% below the average session volume.
• Analyst sentiment remains mixed: six analysts rate the stock a Buy, one a Hold, and one a Sell. The consensus rating is “Moderate Buy,” with a $25.40 price target versus the current share price.
• The company reported a quarterly loss of $0.52 per share, missing expectations by $0.04, while revenue totaled $6.31 million. Analysts expect a full-year loss of $2.29 per share.

Shares of Generate Biomedicines Inc (NASDAQ:GENB - Get Free Report) rose 4.9% during trading on Tuesday . The company traded as high as $16.35 and last traded at $16.4660. Approximately 57,607 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 657,916 shares. The stock had previously closed at $15.69.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Weiss Ratings initiated coverage on Generate Biomedicines in a report on Tuesday, August 11th. They set a "sell (d)" rating on the stock. Wall Street Zen cut Generate Biomedicines from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. HC Wainwright lifted their price objective on Generate Biomedicines from $16.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Morgan Stanley boosted their price objective on Generate Biomedicines from $20.00 to $22.00 and gave the stock an "overweight" rating in a research note on Thursday, May 14th. Six 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $25.40.

Generate Biomedicines Stock Up 3.1%

The stock has a market capitalization of $2.08 billion and a P/E ratio of -10.17. The stock has a 50 day moving average price of $14.69.

Generate Biomedicines (NASDAQ:GENB - Get Free Report) last posted 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 for the quarter. Equities research analysts anticipate that Generate Biomedicines Inc will post -2.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Generate Biomedicines stock. Bank of New York Mellon Corp bought a new stake in Generate Biomedicines Inc (NASDAQ:GENB - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 57,326 shares of the company's stock, valued at approximately $967,000.

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.

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