Generation Bio (NASDAQ:GBIO) Earns "Buy" Rating from Needham & Company LLC

Generation Bio (NASDAQ:GBIO - Get Free Report)'s stock had its "buy" rating reissued by Needham & Company LLC in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $10.00 price objective on the stock. Needham & Company LLC's price objective suggests a potential upside of 169.54% from the company's previous close.

Separately, Wedbush reiterated an "outperform" rating and issued a $5.00 price objective on shares of Generation Bio in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $8.00.

Generation Bio Stock Down 6.8 %

GBIO traded down $0.27 on Wednesday, reaching $3.71. The company's stock had a trading volume of 145,809 shares, compared to its average volume of 281,108. The stock has a 50 day moving average of $2.82 and a two-hundred day moving average of $2.21. The company has a market capitalization of $246.64 million, a price-to-earnings ratio of -1.96 and a beta of 2.79. Generation Bio has a fifty-two week low of $0.86 and a fifty-two week high of $6.98.

Generation Bio (NASDAQ:GBIO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.12). The company had revenue of $2.88 million during the quarter, compared to analysts' expectations of $3.05 million. As a group, analysts anticipate that Generation Bio will post -1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Generation Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. purchased a new stake in shares of Generation Bio during the second quarter worth approximately $26,000. Quantbot Technologies LP raised its stake in shares of Generation Bio by 2,566.7% during the first quarter. Quantbot Technologies LP now owns 8,000 shares of the company's stock worth $58,000 after purchasing an additional 7,700 shares during the last quarter. UBS Group AG raised its stake in shares of Generation Bio by 63.1% during the second quarter. UBS Group AG now owns 10,077 shares of the company's stock worth $66,000 after purchasing an additional 3,900 shares during the last quarter. Prelude Capital Management LLC purchased a new stake in shares of Generation Bio during the first quarter worth approximately $74,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Generation Bio during the second quarter worth approximately $56,000. Hedge funds and other institutional investors own 95.22% of the company's stock.

Generation Bio Company Profile

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.