New York State Common Retirement Fund increased its position in Generation Bio Co. (NASDAQ:GBIO) by 76.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,227 shares of the company’s stock after acquiring an additional 17,027 shares during the quarter. New York State Common Retirement Fund’s holdings in Generation Bio were worth $1,055,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of GBIO. BlackRock Inc. lifted its stake in Generation Bio by 117.9% in the 1st quarter. BlackRock Inc. now owns 2,913,455 shares of the company’s stock worth $82,917,000 after purchasing an additional 1,576,565 shares in the last quarter. Credit Suisse AG raised its position in shares of Generation Bio by 7.1% in the first quarter. Credit Suisse AG now owns 22,553 shares of the company’s stock worth $641,000 after buying an additional 1,500 shares in the last quarter. Arizona State Retirement System bought a new stake in Generation Bio during the first quarter valued at $254,000. Principal Financial Group Inc. bought a new position in Generation Bio in the 1st quarter worth about $218,000. Finally, E Fund Management Co. Ltd. purchased a new stake in shares of Generation Bio in the 1st quarter valued at about $114,000. 81.86% of the stock is owned by institutional investors.
Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Generation Bio from a “hold” rating to a “sell” rating in a research report on Monday, August 16th. JMP Securities initiated coverage on shares of Generation Bio in a research report on Tuesday, June 8th. They set an “outperform” rating and a $40.00 price objective on the stock. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, Generation Bio presently has an average rating of “Buy” and a consensus target price of $43.50.
Shares of NASDAQ GBIO opened at $25.84 on Wednesday. The stock’s 50-day moving average is $23.37 and its 200 day moving average is $28.12. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -12.92 and a beta of 5.56. Generation Bio Co. has a 1-year low of $19.16 and a 1-year high of $55.72.
Generation Bio (NASDAQ:GBIO) last issued its quarterly earnings results on Tuesday, August 10th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.08). As a group, sell-side analysts anticipate that Generation Bio Co. will post -2.13 earnings per share for the current fiscal year.
Generation Bio Company Profile
Generation Bio Co, a genetic medicines company, develops gene therapies for the treatment of rare and prevalent diseases. The company is developing a portfolio of programs for rare and prevalent diseases of the liver and retina. It also focuses on the diseases of skeletal muscle, central nervous system, and oncology.
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