Generation Bio Co. (NASDAQ:GBIO - Free Report) - Investment analysts at Wedbush lifted their Q2 2024 earnings per share (EPS) estimates for shares of Generation Bio in a report released on Tuesday, May 14th. Wedbush analyst D. Nierengarten now forecasts that the company will earn ($0.21) per share for the quarter, up from their previous forecast of ($0.29). Wedbush has a "Outperform" rating and a $5.00 price objective on the stock. The consensus estimate for Generation Bio's current full-year earnings is ($1.34) per share. Wedbush also issued estimates for Generation Bio's Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($1.62) EPS, FY2025 earnings at ($0.51) EPS, FY2026 earnings at ($0.40) EPS and FY2027 earnings at ($0.41) EPS.
Generation Bio (NASDAQ:GBIO - Get Free Report) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.12). The company had revenue of $2.88 million for the quarter, compared to analyst estimates of $3.05 million. Generation Bio had a negative return on equity of 73.57% and a negative net margin of 1,696.87%.
Separately, Needham & Company LLC restated a "buy" rating and issued a $10.00 price objective on shares of Generation Bio in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $8.00.
View Our Latest Research Report on Generation Bio
Generation Bio Price Performance
Shares of GBIO stock traded down $0.02 during mid-day trading on Thursday, hitting $3.77. The stock had a trading volume of 118,793 shares, compared to its average volume of 261,625. Generation Bio has a fifty-two week low of $0.86 and a fifty-two week high of $6.98. The company's 50-day simple moving average is $3.36 and its 200-day simple moving average is $2.31. The firm has a market cap of $250.81 million, a PE ratio of -1.48 and a beta of 2.87.
Hedge Funds Weigh In On Generation Bio
A number of institutional investors and hedge funds have recently made changes to their positions in GBIO. Price T Rowe Associates Inc. MD boosted its holdings in Generation Bio by 28.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,878,361 shares of the company's stock worth $36,136,000 after buying an additional 1,952,187 shares in the last quarter. Bellevue Group AG boosted its stake in shares of Generation Bio by 6.8% during the 1st quarter. Bellevue Group AG now owns 3,861,575 shares of the company's stock worth $15,717,000 after acquiring an additional 244,495 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Generation Bio by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,570,456 shares of the company's stock worth $10,462,000 after acquiring an additional 18,205 shares during the period. Acadian Asset Management LLC increased its stake in Generation Bio by 113.9% in the 1st quarter. Acadian Asset Management LLC now owns 479,835 shares of the company's stock valued at $1,952,000 after purchasing an additional 255,468 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in Generation Bio by 72.1% in the 3rd quarter. TD Asset Management Inc now owns 406,598 shares of the company's stock valued at $1,541,000 after purchasing an additional 170,343 shares in the last quarter. 95.22% of the stock is owned by institutional investors and hedge funds.
About Generation Bio
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Generation Bio Co develops non-viral genetic medicines for the treatment of rare and prevalent diseases. The company develops cell-targeted lipid nanoparticle (ctLNP) platform, a modular delivery system for nucleic acids to avoid off-target clearance by the liver and spleen that enables ctLNPs to persist in systemic circulation, which allows for highly selective and potent ligand-driven targeting to specific tissues and cell types; and novel immune-quiet DNA (iqDNA) to enable long-lasting high levels of gene expression from non-integrating episomes and avoids innate immune sensors that have long prevented DNA from use in non-viral systems.
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