Generate Biomedicines (NASDAQ:GENB) Stock Falls 4.8% - Here's Why

Key Points

• Generate Biomedicines shares fell 4.8% to approximately $15.23, with trading volume down 72% from the average session.
• Analyst opinions are mixed: Wall Street Zen and Weiss Ratings issued sell ratings, while HC Wainwright maintained a buy rating with a $30 target. Overall, the stock has a “Moderate Buy” consensus and a $26.40 average target price.
• The company reported a quarterly loss of $0.52 per share, missing estimates by $0.04, on revenue of $6.31 million; analysts expect a full-year loss of $2.29 per share.

Shares of Generate Biomedicines Inc (NASDAQ:GENB - Get Free Report) fell 4.8% on Friday. The stock traded as low as $15.13 and last traded at $15.2250. 228,909 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 828,133 shares. The stock had previously closed at $15.99.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Generate Biomedicines from a "hold" rating to a "sell" rating in a report on Saturday, September 12th. Weiss Ratings began coverage on shares of Generate Biomedicines in a research report on Tuesday, August 11th. They issued a "sell (d)" rating for the company. Finally, HC Wainwright restated a "buy" rating and set a $30.00 target price on shares of Generate Biomedicines in a research note on Tuesday, September 8th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.40.

Generate Biomedicines Stock Down 5.1%

The firm has a market cap of $1.95 billion and a P/E ratio of -9.55. The business's 50 day moving average is $15.43 and its 200-day moving average is $14.29.

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

Institutional Trading of Generate Biomedicines

Several institutional investors and hedge funds have recently bought and sold shares of the company. Susquehanna International Group LLP bought a new position in Generate Biomedicines during the 2nd quarter worth approximately $196,000. AXQ Capital LP acquired a new stake in shares of Generate Biomedicines during the 2nd quarter valued at approximately $218,000. Squarepoint Ops LLC acquired a new stake in shares of Generate Biomedicines during the 2nd quarter valued at approximately $530,000. Bank of New York Mellon Corp bought a new position in Generate Biomedicines during the second quarter worth $967,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Generate Biomedicines in the second quarter worth $1,431,000.

About Generate Biomedicines

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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