Generate Biomedicines’ (NASDAQ:GENB – Get Free Report) lock-up period will end on Wednesday, August 26th. Generate Biomedicines had issued 25,000,000 shares in its public offering on February 27th. The total size of the offering was $400,000,000 based on an initial share price of $16.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. HC Wainwright lifted their price target on shares of Generate Biomedicines from $16.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Morgan Stanley upped their price objective on shares of Generate Biomedicines from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Weiss Ratings initiated coverage on Generate Biomedicines in a research note on Tuesday, August 11th. They set a “sell (d)” rating for the company. Finally, Wall Street Zen lowered Generate Biomedicines from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.40.
Check Out Our Latest Report on GENB
Generate Biomedicines Stock Performance
Generate Biomedicines (NASDAQ:GENB – Get Free Report) last issued its quarterly earnings results 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 company had revenue of $6.31 million for the quarter. Equities analysts forecast that Generate Biomedicines will post -2.29 EPS for the current year.
Institutional Investors Weigh In On Generate Biomedicines
Hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna International Group LLP bought a new position in shares of Generate Biomedicines during the second quarter worth about $196,000. Bank of New York Mellon Corp acquired a new position in Generate Biomedicines in the second quarter worth about $967,000. AXQ Capital LP bought a new stake in Generate Biomedicines in the second quarter valued at about $218,000. Finally, Braidwell LP bought a new stake in Generate Biomedicines in the second quarter valued at about $55,398,000.
Generate Biomedicines Company 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.
See Also
- Five stocks we like better than Generate Biomedicines
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
Receive News & Ratings for Generate Biomedicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Generate Biomedicines and related companies with MarketBeat.com's FREE daily email newsletter.
