Generation Bio (NASDAQ:GBIO) Announces Earnings Results

Generation Bio (NASDAQ:GBIO – Get Rating) posted its earnings results on Thursday. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.03), Fidelity Earnings reports.

Generation Bio Stock Up 0.4 %

Shares of NASDAQ GBIO traded up $0.03 during trading on Friday, hitting $8.08. The company had a trading volume of 922,807 shares, compared to its average volume of 358,834. The stock has a 50 day simple moving average of $6.53 and a 200 day simple moving average of $6.27. Generation Bio has a 12 month low of $3.96 and a 12 month high of $28.67.

Wall Street Analyst Weigh In

GBIO has been the topic of a number of recent research reports. Needham & Company LLC lowered their target price on Generation Bio from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Friday. Wedbush reissued an “outperform” rating and issued a $24.00 target price on shares of Generation Bio in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Generation Bio presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GBIO. Swiss National Bank raised its stake in shares of Generation Bio by 7.4% in the first quarter. Swiss National Bank now owns 87,400 shares of the company’s stock worth $642,000 after buying an additional 6,000 shares during the period. JPMorgan Chase & Co. raised its stake in Generation Bio by 17.5% during the 1st quarter. JPMorgan Chase & Co. now owns 660,275 shares of the company’s stock valued at $4,847,000 after purchasing an additional 98,270 shares during the period. MetLife Investment Management LLC raised its stake in Generation Bio by 476.7% during the 1st quarter. MetLife Investment Management LLC now owns 19,788 shares of the company’s stock valued at $145,000 after purchasing an additional 16,357 shares during the period. Prelude Capital Management LLC bought a new stake in Generation Bio during the 1st quarter valued at approximately $74,000. Finally, PDT Partners LLC raised its stake in Generation Bio by 159.5% during the 1st quarter. PDT Partners LLC now owns 95,615 shares of the company’s stock valued at $702,000 after purchasing an additional 58,772 shares during the period. Institutional investors own 82.00% of the company’s stock.

Generation Bio Company Profile

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Generation Bio Co, a genetic medicines company, develops therapies for the treatment of rare and prevalent diseases. The company provides a portfolio of programs, including 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.