Needham & Company LLC Issues Pessimistic Forecast for Generation Bio (NASDAQ:GBIO) Stock Price

Generation Bio (NASDAQ:GBIO) had its price target reduced by equities researchers at Needham & Company LLC from $10.00 to $8.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Separately, Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Generation Bio in a report on Thursday, November 7th.

Generation Bio Trading Down 12.5 %

Shares of GBIO opened at $0.91 on Wednesday. The firm has a 50-day moving average price of $1.41 and a 200 day moving average price of $2.17. Generation Bio has a 12-month low of $0.75 and a 12-month high of $4.65. The firm has a market capitalization of $60.79 million, a P/E ratio of -0.42 and a beta of 2.72.

Hedge Funds Weigh In On Generation Bio

A number of hedge funds have recently modified their holdings of GBIO. Barclays PLC lifted its position in Generation Bio by 165.5% in the third quarter. Barclays PLC now owns 76,430 shares of the company’s stock valued at $189,000 after buying an additional 47,639 shares during the last quarter. State Street Corp raised its stake in shares of Generation Bio by 1.2% in the 3rd quarter. State Street Corp now owns 992,188 shares of the company’s stock valued at $2,451,000 after acquiring an additional 11,669 shares during the period. Baker BROS. Advisors LP lifted its holdings in shares of Generation Bio by 61.1% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,944,945 shares of the company’s stock worth $4,804,000 after acquiring an additional 737,988 shares during the last quarter. FMR LLC increased its holdings in Generation Bio by 0.3% in the 3rd quarter. FMR LLC now owns 5,320,266 shares of the company’s stock valued at $13,141,000 after purchasing an additional 15,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Generation Bio by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 423,299 shares of the company’s stock valued at $1,046,000 after purchasing an additional 8,692 shares during the period. 95.22% of the stock is currently owned by hedge funds and other institutional investors.

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.