Needham & Company LLC Has Lowered Expectations for Generation Bio (NASDAQ:GBIO) Stock Price

Generation Bio (NASDAQ:GBIO) had its price objective lowered by investment analysts at Needham & Company LLC from $10.00 to $8.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Separately, Wedbush restated an “outperform” rating and set a $5.00 price objective on shares of Generation Bio in a research report on Thursday, November 7th.

Generation Bio Stock Down 8.8 %

Shares of GBIO stock opened at $1.04 on Wednesday. The company has a market cap of $69.46 million, a P/E ratio of -0.47 and a beta of 2.72. The business has a 50 day moving average of $1.46 and a two-hundred day moving average of $2.19. Generation Bio has a 52 week low of $0.75 and a 52 week high of $4.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GBIO. State Street Corp raised its holdings in shares of Generation Bio by 1.2% during the third quarter. State Street Corp now owns 992,188 shares of the company’s stock valued at $2,451,000 after buying an additional 11,669 shares during the last quarter. Baker BROS. Advisors LP increased its position in Generation Bio by 61.1% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,944,945 shares of the company’s stock valued at $4,804,000 after acquiring an additional 737,988 shares during the period. Acadian Asset Management LLC raised its stake in Generation Bio by 23.9% during the 2nd quarter. Acadian Asset Management LLC now owns 594,569 shares of the company’s stock valued at $1,675,000 after acquiring an additional 114,734 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position 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 acquiring an additional 9,075 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Generation Bio by 31.2% in the second quarter. Bank of New York Mellon Corp now owns 186,756 shares of the company’s stock worth $527,000 after purchasing an additional 44,378 shares in the last quarter. 95.22% of the stock is owned by institutional investors and hedge funds.

Generation Bio Company Profile

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.