Generation Bio (NASDAQ:GBIO) Stock Rating Reaffirmed by Needham & Company LLC

Generation Bio (NASDAQ:GBIO)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a report issued on Wednesday, Benzinga reports. They currently have a $10.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 150.00% from the stock’s current price.

Separately, Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Generation Bio in a research note on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.00.

Generation Bio Stock Performance

GBIO stock opened at $4.00 on Wednesday. The stock’s 50 day moving average price is $2.90 and its 200 day moving average price is $2.23. The firm has a market cap of $265.92 million, a P/E ratio of -2.04 and a beta of 2.79. Generation Bio has a 1 year low of $0.86 and a 1 year high of $6.98.

Generation Bio (NASDAQ:GBIO) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.12). The firm had revenue of $2.88 million during the quarter, compared to the consensus estimate of $3.05 million. On average, research analysts predict that Generation Bio will post -1.34 earnings per share for the current year.

Institutional Investors Weigh In On Generation Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted its stake in Generation Bio by 0.4% in the 1st quarter. FMR LLC now owns 8,949,863 shares of the company’s stock worth $38,484,000 after buying an additional 36,532 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Generation Bio by 1.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 8,931,613 shares of the company’s stock worth $58,591,000 after acquiring an additional 167,922 shares during the last quarter. BlackRock Inc. grew its holdings in Generation Bio by 3.3% in the third quarter. BlackRock Inc. now owns 3,616,045 shares of the company’s stock valued at $19,202,000 after purchasing an additional 114,082 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Generation Bio by 2.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,577,755 shares of the company’s stock worth $14,061,000 after purchasing an additional 95,138 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Generation Bio by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 2,552,251 shares of the company’s stock worth $4,211,000 after purchasing an additional 213,467 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.