Generate Biomedicines (NASDAQ:GENB) Shares Down 6.7% - What's Next?

Key Points

• Generate Biomedicines shares fell 6.7% to $14.01 during Thursday trading, with roughly 725,887 shares changing hands.
• Analyst sentiment remains generally positive: the stock has a “Moderate Buy” consensus rating and an average price target of $26.40, despite recent rating changes and a quarterly EPS miss.
• The company reported a quarterly loss of $0.52 per share versus the $0.48 expected, with revenue of $6.31 million; analysts forecast a full-year loss of $2.29 per share.

Generate Biomedicines Inc (NASDAQ:GENB - Get Free Report)'s stock price was down 6.7% during trading on Thursday. The company traded as low as $14.11 and last traded at $14.01. Approximately 725,887 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 834,337 shares. The stock had previously closed at $15.02.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GENB shares. Wall Street Zen raised Generate Biomedicines from a "sell" rating to a "hold" rating in a research note on Saturday, September 26th. HC Wainwright reiterated a "buy" rating and set a $30.00 price objective on shares of Generate Biomedicines in a research report on Tuesday, September 8th. Finally, Weiss Ratings raised shares of Generate Biomedicines from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, September 25th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Generate Biomedicines presently has a consensus rating of "Moderate Buy" and an average target price of $26.40.

Generate Biomedicines Stock Down 6.7%

The stock has a market capitalization of $1.80 billion and a PE ratio of -8.83. The stock's 50 day moving average price is $15.53 and its 200-day moving average price is $14.34.

Generate Biomedicines (NASDAQ:GENB - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.04). The business had revenue of $6.31 million for the quarter. As a group, sell-side analysts predict that Generate Biomedicines Inc will post -2.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Generate Biomedicines

Several hedge funds have recently made changes to their positions in GENB. Susquehanna International Group LLP purchased a new position in shares of Generate Biomedicines during the second quarter valued at $196,000. AXQ Capital LP purchased a new stake in Generate Biomedicines in the second quarter worth about $218,000. Squarepoint Ops LLC bought a new position in Generate Biomedicines during the 2nd quarter worth about $530,000. Bank of New York Mellon Corp purchased a new position in Generate Biomedicines during the 2nd quarter valued at about $967,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Generate Biomedicines during the 2nd quarter valued at about $1,431,000.

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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