Wedbush Reiterates $5.50 Price Target for Generation Bio (NASDAQ:GBIO)

Wedbush set a $5.50 price target on Generation Bio (NASDAQ:GBIO) in a research note published on Tuesday, Marketbeat.com reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently commented on GBIO. Jefferies Financial Group downgraded Generation Bio from a “buy” rating to a “hold” rating and reduced their target price for the company from $11.00 to $5.00 in a report on Tuesday. Canaccord Genuity Group boosted their price objective on shares of Generation Bio from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of Generation Bio in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Generation Bio in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.88.

Generation Bio Stock Up 1.7%

Shares of NASDAQ:GBIO opened at $5.45 on Tuesday. The company has a market cap of $36.73 million, a price-to-earnings ratio of -0.58 and a beta of 1.96. Generation Bio has a fifty-two week low of $3.00 and a fifty-two week high of $12.50. The firm’s 50-day simple moving average is $5.57 and its 200-day simple moving average is $5.15.

Generation Bio (NASDAQ:GBIO) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($3.18) by $2.36. Generation Bio had a negative net margin of 410.13% and a negative return on equity of 94.82%. The firm had revenue of $1.59 million during the quarter, compared to the consensus estimate of $0.66 million. On average, research analysts forecast that Generation Bio will post -1.75 EPS for the current year.

Hedge Funds Weigh In On Generation Bio

A number of institutional investors have recently made changes to their positions in GBIO. Y Intercept Hong Kong Ltd acquired a new stake in shares of Generation Bio during the second quarter valued at $47,000. ADAR1 Capital Management LLC purchased a new position in Generation Bio in the 3rd quarter valued at about $136,000. Militia Capital Partners LP acquired a new stake in shares of Generation Bio during the 2nd quarter worth about $174,000. Nuveen LLC purchased a new stake in shares of Generation Bio during the first quarter worth about $69,000. Finally, Marshall Wace LLP purchased a new position in shares of Generation Bio during the second quarter valued at approximately $37,000. 95.22% of the stock is 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.