The Manufacturers Life Insurance Company Has $464,000 Holdings in Generation Bio Co. (NASDAQ:GBIO)

The Manufacturers Life Insurance Company grew its position in Generation Bio Co. (NASDAQ:GBIO) by 8.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,573 shares of the company’s stock after purchasing an additional 13,104 shares during the period. The Manufacturers Life Insurance Company owned about 0.25% of Generation Bio worth $464,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. PFG Advisors acquired a new position in shares of Generation Bio during the 1st quarter valued at about $41,000. Cubist Systematic Strategies LLC increased its holdings in shares of Generation Bio by 91.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 19,046 shares of the company’s stock valued at $54,000 after acquiring an additional 9,075 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Generation Bio during the 1st quarter valued at about $74,000. American Century Companies Inc. increased its holdings in shares of Generation Bio by 199.3% during the 2nd quarter. American Century Companies Inc. now owns 31,786 shares of the company’s stock valued at $90,000 after acquiring an additional 21,167 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Generation Bio by 7.4% during the 2nd quarter. Rhumbline Advisers now owns 78,903 shares of the company’s stock valued at $222,000 after acquiring an additional 5,430 shares during the last quarter. 95.22% of the stock is owned by institutional investors and hedge funds.

Generation Bio Stock Up 1.7 %

GBIO opened at $2.46 on Thursday. The firm has a market capitalization of $163.66 million, a P/E ratio of -0.96 and a beta of 2.80. The stock’s 50 day moving average price is $2.50 and its two-hundred day moving average price is $2.89. Generation Bio Co. has a 12-month low of $0.86 and a 12-month high of $4.65.

Generation Bio (NASDAQ:GBIO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). Generation Bio had a negative return on equity of 92.86% and a negative net margin of 1,202.56%. The firm had revenue of $4.09 million during the quarter, compared to the consensus estimate of $3.23 million. As a group, analysts anticipate that Generation Bio Co. will post -1.8 earnings per share for the current year.

Analyst Ratings Changes

GBIO has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of Generation Bio in a report on Thursday, August 8th. Wedbush reissued an “outperform” rating and set a $5.00 price objective on shares of Generation Bio in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.50.

About Generation Bio

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.