Generation Bio Co. (NASDAQ:GBIO) Short Interest Down 13.4% in October

Generation Bio Co. (NASDAQ:GBIO) saw a significant decrease in short interest in October. As of October 15th, there was short interest totalling 1,740,000 shares, a decrease of 13.4% from the September 30th total of 2,010,000 shares. Approximately 3.6% of the company’s shares are short sold. Based on an average trading volume of 101,500 shares, the days-to-cover ratio is presently 17.1 days.

Institutional Trading of Generation Bio

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Generation Bio during the 3rd quarter worth approximately $42,000. Cubist Systematic Strategies LLC lifted its holdings in Generation Bio by 91.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 19,046 shares of the company’s stock worth $54,000 after purchasing an additional 9,075 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Generation Bio by 8.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 164,573 shares of the company’s stock worth $464,000 after purchasing an additional 13,104 shares during the last quarter. American Century Companies Inc. lifted its holdings in Generation Bio by 199.3% during the 2nd quarter. American Century Companies Inc. now owns 31,786 shares of the company’s stock worth $90,000 after purchasing an additional 21,167 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Generation Bio by 23.9% during the 2nd quarter. Acadian Asset Management LLC now owns 594,569 shares of the company’s stock worth $1,675,000 after purchasing an additional 114,734 shares during the last quarter. 95.22% of the stock is owned by institutional investors and hedge funds.

Generation Bio Stock Up 0.9 %

Shares of NASDAQ:GBIO traded up $0.02 during mid-day trading on Tuesday, reaching $2.36. 54,404 shares of the stock were exchanged, compared to its average volume of 181,515. The company has a market cap of $157.51 million, a P/E ratio of -0.98 and a beta of 2.80. Generation Bio has a one year low of $0.89 and a one year high of $4.65. The stock’s 50 day simple moving average is $2.46 and its 200-day simple moving average is $2.78.

Generation Bio (NASDAQ:GBIO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.04). Generation Bio had a negative net margin of 1,202.56% and a negative return on equity of 92.86%. The company had revenue of $4.09 million for the quarter, compared to analyst estimates of $3.23 million. Analysts anticipate that Generation Bio will post -1.8 EPS for the current fiscal year.

Analysts Set New Price Targets

GBIO has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of Generation Bio in a report on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and set a $5.00 price objective on shares of Generation Bio in a report on Thursday, August 8th.

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.