Generation Bio’s (GBIO) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Generation Bio (NASDAQ:GBIO) in a report issued on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a $9.00 price objective on the stock.

A number of other brokerages have also weighed in on GBIO. Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of Generation Bio in a research note on Friday, March 14th. Wedbush reissued an “outperform” rating and set a $5.00 target price on shares of Generation Bio in a research report on Friday, March 14th.

Generation Bio Stock Down 3.0 %

NASDAQ:GBIO opened at $0.54 on Monday. The stock has a market capitalization of $36.30 million, a price-to-earnings ratio of -0.25 and a beta of 2.72. Generation Bio has a 52 week low of $0.47 and a 52 week high of $4.65. The firm has a 50 day moving average of $0.71 and a 200 day moving average of $1.48.

Generation Bio (NASDAQ:GBIO) last issued its quarterly earnings data on Wednesday, March 19th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.01). Generation Bio had a negative net margin of 782.86% and a negative return on equity of 104.85%. The business had revenue of $4.19 million for the quarter, compared to analysts’ expectations of $2.92 million. As a group, analysts expect that Generation Bio will post -1.75 EPS for the current year.

Insiders Place Their Bets

In related news, Director Anthony G. Quinn acquired 85,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was acquired at an average price of $0.97 per share, with a total value of $82,450.00. Following the acquisition, the director now directly owns 299,286 shares in the company, valued at $290,307.42. This represents a 39.67 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 21.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GBIO. State Street Corp increased its holdings in shares of Generation Bio by 1.2% during the 3rd quarter. State Street Corp now owns 992,188 shares of the company’s stock valued at $2,451,000 after purchasing an additional 11,669 shares in the last quarter. Baker BROS. Advisors LP raised its stake in Generation Bio by 61.1% during the third quarter. Baker BROS. Advisors LP now owns 1,944,945 shares of the company’s stock worth $4,804,000 after purchasing an additional 737,988 shares during the period. Barclays PLC increased 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 acquiring an additional 47,639 shares during the last quarter. FMR LLC lifted its position in Generation Bio by 0.3% in the third quarter. FMR LLC now owns 5,320,266 shares of the company’s stock valued at $13,141,000 after buying an additional 15,656 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in Generation Bio in the 4th quarter valued at approximately $2,398,000. 95.22% of the stock is owned by institutional investors and hedge funds.

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.