Generation Bio (NASDAQ:GBIO) Price Target Lowered to $8.00 at Needham & Company LLC

Generation Bio (NASDAQ:GBIO) had its price objective dropped by stock analysts at Needham & Company LLC from $10.00 to $8.00 in a research note issued on Wednesday,Benzinga reports. The brokerage 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 note on Thursday, November 7th.

Generation Bio Price Performance

NASDAQ:GBIO opened at $1.04 on Wednesday. Generation Bio has a 1-year low of $0.75 and a 1-year high of $4.65. The stock has a market cap of $69.46 million, a P/E ratio of -0.47 and a beta of 2.72. The firm has a 50-day moving average of $1.46 and a two-hundred day moving average of $2.19.

Institutional Investors Weigh In On Generation Bio

Several hedge funds and other institutional investors have recently modified their holdings of GBIO. Rhumbline Advisers grew its stake in Generation Bio by 7.4% in the second quarter. Rhumbline Advisers now owns 78,903 shares of the company’s stock worth $222,000 after purchasing an additional 5,430 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Generation Bio by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,299 shares of the company’s stock worth $1,046,000 after buying an additional 8,692 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Generation Bio by 91.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 19,046 shares of the company’s stock valued at $54,000 after acquiring an additional 9,075 shares during the last quarter. State Street Corp raised its position in shares of Generation Bio by 1.2% during the 3rd quarter. State Street Corp now owns 992,188 shares of the company’s stock valued at $2,451,000 after acquiring an additional 11,669 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Generation Bio by 8.7% during the second 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. Institutional investors own 95.22% of the company’s stock.

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.