Generation Bio’s (GBIO) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Generation Bio (NASDAQ:GBIO) in a report published on Friday morning,Benzinga reports. The brokerage currently has a $8.00 price target on the stock.

Generation Bio Stock Down 6.3 %

Shares of Generation Bio stock opened at $0.48 on Friday. Generation Bio has a fifty-two week low of $0.47 and a fifty-two week high of $4.65. The firm has a market cap of $32.06 million, a PE ratio of -0.22 and a beta of 2.72. The business’s fifty day moving average is $0.74 and its two-hundred day moving average is $1.51.

Generation Bio (NASDAQ:GBIO) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). The business had revenue of $4.19 million for the quarter, compared to analysts’ expectations of $2.92 million. Generation Bio had a negative return on equity of 104.85% and a negative net margin of 782.86%. Equities research analysts anticipate that Generation Bio will post -1.75 EPS for the current year.

Insider Transactions at Generation Bio

In other news, Director Anthony G. Quinn acquired 125,791 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was acquired at an average cost of $0.96 per share, for a total transaction of $120,759.36. Following the acquisition, the director now directly owns 214,286 shares in the company, valued at approximately $205,714.56. This represents a 142.14 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 21.10% of the company’s stock.

Institutional Trading of Generation Bio

Several large investors have recently added to or reduced their stakes in the stock. Aegis Wealth Management LLC acquired a new stake in Generation Bio in the 4th quarter valued at $94,000. Jefferies Financial Group Inc. acquired a new stake in Generation Bio in the 4th quarter valued at $2,398,000. Squarepoint Ops LLC acquired a new stake in Generation Bio in the 4th quarter valued at $70,000. Millennium Management LLC acquired a new stake in Generation Bio in the 4th quarter valued at $97,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Generation Bio by 13.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 311,535 shares of the company’s stock valued at $330,000 after purchasing an additional 38,090 shares in the last quarter. 95.22% of the stock is currently owned by institutional investors and hedge funds.

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.