Braidwell LP acquired a new stake in Generate Biomedicines Inc (NASDAQ:GENB – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,283,844 shares of the company’s stock, valued at approximately $55,398,000. Generate Biomedicines makes up 2.1% of Braidwell LP’s holdings, making the stock its 14th largest position.
Separately, Bank of New York Mellon Corp purchased a new position in shares of Generate Biomedicines during the second quarter worth approximately $967,000.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. HC Wainwright boosted their price target on Generate Biomedicines from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 28th. Morgan Stanley raised their price objective on Generate Biomedicines from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Weiss Ratings initiated coverage on Generate Biomedicines in a research report on Tuesday, August 11th. They set a “sell (d)” rating for the company. Finally, Wall Street Zen upgraded Generate Biomedicines from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.40.
Generate Biomedicines Stock Performance
NASDAQ:GENB opened at $16.28 on Thursday. The firm has a 50-day simple moving average of $15.27. Generate Biomedicines Inc has a one year low of $11.00 and a one year high of $22.67. The company has a market cap of $2.09 billion and a price-to-earnings ratio of -10.24.
Generate Biomedicines (NASDAQ:GENB – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). The firm had revenue of $6.31 million for the quarter. Sell-side analysts expect that Generate Biomedicines Inc will post -2.29 EPS for the current fiscal year.
Generate Biomedicines Profile
Generate Biomedicines, Inc (NASDAQ: GENB) is a biotechnology company that applies machine learning and generative artificial intelligence to the design and discovery of novel therapeutics. The company develops computational platforms to create and optimize protein sequences and biological molecules with the goal of producing new medicines across a range of modalities. Its core activities center on algorithm-driven design, iterative experimental validation, and the translation of computational outputs into candidate therapeutic molecules.
Generate’s technology combines advanced computational models with high-throughput laboratory methods to accelerate discovery and improve the likelihood of producing viable drug candidates.
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