Generation Bio (NASDAQ:GBIO) Shares Up 10%

Generation Bio Co. (NASDAQ:GBIO)’s stock price shot up 10% during trading on Thursday . The company traded as high as $4.29 and last traded at $4.07. 441,905 shares were traded during mid-day trading, an increase of 57% from the average session volume of 280,852 shares. The stock had previously closed at $3.70.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Generation Bio in a report on Thursday, March 7th. Needham & Company LLC reduced their price objective on shares of Generation Bio from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Generation Bio has an average rating of “Hold” and an average target price of $8.00.

Generation Bio Stock Up 10.0 %

The firm has a market cap of $270.57 million, a PE ratio of -2.08 and a beta of 2.70. The company’s 50 day moving average price is $2.46 and its two-hundred day moving average price is $2.24.

Institutional Trading of Generation Bio

A number of institutional investors have recently bought and sold shares of GBIO. Osaic Holdings Inc. acquired a new stake in Generation Bio during the 2nd quarter worth $26,000. Envestnet Asset Management Inc. purchased a new stake in Generation Bio during the fourth quarter worth about $30,000. American Century Companies Inc. purchased a new stake in Generation Bio during the first quarter worth about $49,000. Panagora Asset Management Inc. purchased a new stake in shares of Generation Bio during the fourth quarter worth approximately $49,000. Finally, Kestra Private Wealth Services LLC acquired a new position in Generation Bio in the fourth quarter valued at approximately $50,000. 95.22% of the stock is currently 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.