Generate Biomedicines (NASDAQ:GENB) Stock Rating Lowered by Wall Street Zen

Generate Biomedicines (NASDAQ:GENB) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other research firms have also recently weighed in on GENB. Weiss Ratings raised shares of Generate Biomedicines from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Generate Biomedicines in a report on Monday, October 5th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.40.

Generate Biomedicines Price Performance

Shares of NASDAQ GENB opened at $12.09 on Friday. Generate Biomedicines has a fifty-two week low of $11.00 and a fifty-two week high of $22.67. The stock has a market capitalization of $1.55 billion and a PE ratio of -7.60. The business has a fifty day moving average price of $15.42 and a two-hundred day moving average price of $14.43.

Generate Biomedicines (NASDAQ:GENB) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). The firm had revenue of $6.31 million for the quarter. On average, equities analysts expect that Generate Biomedicines will post -2.29 EPS for the current year.

Hedge Funds Weigh In On Generate Biomedicines

Hedge funds and other institutional investors have recently modified their holdings of the business. Braidwell LP purchased a new stake in shares of Generate Biomedicines during the second quarter valued at approximately $55,398,000. Banque Pictet & Cie SA bought a new position in shares of Generate Biomedicines during the 3rd quarter valued at approximately $26,631,000. State Street Corp purchased a new stake in shares of Generate Biomedicines during the 2nd quarter worth approximately $8,883,000. The Manufacturers Life Insurance Company purchased a new position in Generate Biomedicines in the second quarter valued at approximately $1,431,000. Finally, Bank of New York Mellon Corp purchased a new stake in Generate Biomedicines in the second quarter worth $967,000.

Generate Biomedicines Company Profile

Generate Biomedicines is a biotechnology company focused on discovering and developing protein-based medicines. The company uses generative artificial intelligence, machine learning and laboratory-based biological research to design new therapeutic proteins and identify candidates with potential applications in a range of diseases.

Its platform, often described as a generative biology approach, is designed to model biological systems and create proteins with desired characteristics rather than relying solely on modifying naturally occurring molecules.