Generate Biomedicines (NASDAQ:GENB) Stock Rating Raised to Hold at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Generate Biomedicines (NASDAQ:GENB – Free Report) from a sell rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

GENB has been the topic of several other reports. Weiss Ratings started coverage on shares of Generate Biomedicines in a research report on Tuesday, August 11th. They issued a “sell (d)” rating on the stock. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Generate Biomedicines in a research report on Tuesday, September 8th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.40.

Get Our Latest Stock Report on GENB

Generate Biomedicines Stock Down 5.3%

NASDAQ GENB opened at $15.15 on Friday. The company has a 50-day moving average price of $15.46 and a 200-day moving average price of $14.29. Generate Biomedicines has a 52 week low of $11.00 and a 52 week high of $22.67. The firm has a market capitalization of $1.94 billion and a P/E ratio of -9.53.

Generate Biomedicines (NASDAQ:GENB – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). The company had revenue of $6.31 million for the quarter. As a group, equities research analysts anticipate that Generate Biomedicines will post -2.29 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP bought a new stake in Generate Biomedicines during the 2nd quarter worth approximately $196,000. AXQ Capital LP purchased a new position in Generate Biomedicines during the second quarter valued at approximately $218,000. Squarepoint Ops LLC bought a new position in shares of Generate Biomedicines in the second quarter worth approximately $530,000. Bank of New York Mellon Corp bought a new position in shares of Generate Biomedicines in the second quarter worth approximately $967,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Generate Biomedicines in the second quarter worth $1,431,000.

About Generate Biomedicines

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Generate Biomedicines is a biotechnology company that uses generative artificial intelligence and machine learning to discover and design protein-based medicines. Its technology is intended to model relationships among protein sequences, structures and biological functions, helping researchers create therapeutic proteins with desired characteristics.

The company’s research activities are focused on developing novel biologic medicines for areas of significant unmet medical need, including oncology, immunology, infectious diseases and rare diseases.

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