Short Interest in Generation Bio Co. (NASDAQ:GBIO) Drops By 10.8%

Generation Bio Co. (NASDAQ:GBIO) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,480,000 shares, a drop of 10.8% from the October 31st total of 1,660,000 shares. Based on an average daily volume of 129,800 shares, the short-interest ratio is presently 11.4 days. Approximately 3.2% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of Generation Bio in a report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective on shares of Generation Bio in a research note on Wednesday, October 23rd.

Generation Bio Price Performance

Shares of Generation Bio stock traded down $0.05 during midday trading on Tuesday, hitting $1.37. The company had a trading volume of 403,896 shares, compared to its average volume of 182,021. The business’s 50 day simple moving average is $2.09 and its two-hundred day simple moving average is $2.55. The stock has a market cap of $91.50 million, a PE ratio of -0.63 and a beta of 2.66. Generation Bio has a 1-year low of $1.24 and a 1-year high of $4.65.

Institutional Investors Weigh In On Generation Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of Generation Bio in the third quarter worth $42,000. Cubist Systematic Strategies LLC boosted its stake in Generation Bio by 91.0% during the second quarter. Cubist Systematic Strategies LLC now owns 19,046 shares of the company’s stock worth $54,000 after buying an additional 9,075 shares in the last quarter. American Century Companies Inc. boosted its stake in Generation Bio by 199.3% during the second quarter. American Century Companies Inc. now owns 31,786 shares of the company’s stock worth $90,000 after buying an additional 21,167 shares in the last quarter. Barclays PLC boosted its stake in Generation Bio by 165.5% during the third quarter. Barclays PLC now owns 76,430 shares of the company’s stock worth $189,000 after buying an additional 47,639 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Generation Bio by 7.4% during the second quarter. Rhumbline Advisers now owns 78,903 shares of the company’s stock worth $222,000 after buying an additional 5,430 shares in the last quarter. Institutional investors and hedge funds own 95.22% of the company’s stock.

About Generation Bio

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.