Generation Bio (NASDAQ:GBIO) Issues Earnings Results

Generation Bio (NASDAQ:GBIO) issued its earnings results on Wednesday. The company reported ($0.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.18) by $2.36, Zacks reports. The company had revenue of $1.59 million for the quarter, compared to analyst estimates of $0.66 million. Generation Bio had a negative return on equity of 87.94% and a negative net margin of 410.13%.

Generation Bio Stock Up 1.9%

Shares of GBIO stock traded up $0.09 during trading hours on Friday, hitting $5.11. 35,282 shares of the company’s stock traded hands, compared to its average volume of 144,689. The stock has a market cap of $34.47 million, a price-to-earnings ratio of -0.55 and a beta of 2.51. The stock’s fifty day simple moving average is $5.97 and its two-hundred day simple moving average is $4.87. Generation Bio has a 12-month low of $3.00 and a 12-month high of $25.20.

Hedge Funds Weigh In On Generation Bio

Institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC raised its holdings in Generation Bio by 54.3% in the first quarter. Acadian Asset Management LLC now owns 1,159,135 shares of the company’s stock worth $468,000 after buying an additional 407,843 shares during the last quarter. Militia Capital Partners LP bought a new stake in shares of Generation Bio during the second quarter valued at approximately $174,000. Marshall Wace LLP bought a new stake in shares of Generation Bio in the 2nd quarter worth $37,000. Finally, AQR Capital Management LLC purchased a new position in shares of Generation Bio in the first quarter worth $36,000. 95.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GBIO shares. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of Generation Bio in a report on Wednesday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Generation Bio in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Generation Bio from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Canaccord Genuity Group raised their price objective on shares of Generation Bio from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, August 18th. Finally, Wedbush cut shares of Generation Bio from an “outperform” rating to a “neutral” rating and set a $7.00 target price on the stock. in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.67.

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.