Generation Bio (NASDAQ:GBIO) Receives Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Generation Bio (NASDAQ:GBIO) in a research report report published on Monday,Benzinga reports. Canaccord Genuity Group currently has a $9.00 price target on the stock.

GBIO has been the topic of several other reports. Wedbush restated an “outperform” rating and set a $5.00 target price on shares of Generation Bio in a research report on Friday, March 14th. Needham & Company LLC restated a “buy” rating and set a $8.00 target price on shares of Generation Bio in a research report on Friday, March 14th.

Generation Bio Stock Down 3.0 %

Shares of GBIO opened at $0.54 on Monday. Generation Bio has a 52-week low of $0.47 and a 52-week high of $4.65. The company has a 50-day simple moving average of $0.71 and a 200-day simple moving average of $1.48. The company has a market capitalization of $36.30 million, a PE ratio of -0.25 and a beta of 2.72.

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

Insider Buying and Selling at Generation Bio

In other Generation Bio news, Director Anthony G. Quinn purchased 85,000 shares of Generation Bio stock in a transaction on Monday, January 13th. The shares were bought at an average price of $0.97 per share, with a total value of $82,450.00. Following the completion of the acquisition, the director now directly owns 299,286 shares of the company’s stock, valued at approximately $290,307.42. This trade represents a 39.67 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 21.10% of the company’s stock.

Hedge Funds Weigh In On Generation Bio

Several institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Generation Bio by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 423,299 shares of the company’s stock valued at $1,046,000 after buying an additional 8,692 shares during the period. State Street Corp lifted its stake in shares of Generation Bio by 1.2% during the third quarter. State Street Corp now owns 992,188 shares of the company’s stock valued at $2,451,000 after buying an additional 11,669 shares during the period. FMR LLC lifted its stake in shares of Generation Bio by 0.3% during the third quarter. FMR LLC now owns 5,320,266 shares of the company’s stock valued at $13,141,000 after buying an additional 15,656 shares during the period. Intech Investment Management LLC purchased a new position in shares of Generation Bio during the fourth quarter valued at approximately $25,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Generation Bio by 13.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 311,535 shares of the company’s stock valued at $330,000 after buying an additional 38,090 shares during the period. Hedge funds and other institutional investors own 95.22% of the company’s stock.

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.