Generation Bio (NASDAQ:GBIO) Issues Earnings Results, Beats Estimates By $0.05 EPS

Generation Bio (NASDAQ:GBIO) released its quarterly earnings results on Wednesday. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.05, reports. Generation Bio had a negative return on equity of 92.86% and a negative net margin of 1,202.56%. The firm had revenue of $7.55 million for the quarter, compared to analysts’ expectations of $2.16 million.

Generation Bio Stock Down 5.0 %

NASDAQ:GBIO traded down $0.12 during trading hours on Friday, hitting $2.26. 185,589 shares of the stock traded hands, compared to its average volume of 181,326. The company has a market cap of $150.83 million, a price-to-earnings ratio of -1.00 and a beta of 2.82. Generation Bio has a 1 year low of $1.02 and a 1 year high of $4.65. The stock has a 50 day moving average price of $2.41 and a 200 day moving average price of $2.74.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GBIO shares. Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Generation Bio in a research note on Thursday. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of Generation Bio in a research report on Wednesday, October 23rd.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GBIO. Rhumbline Advisers grew its holdings in Generation Bio by 7.4% during the 2nd quarter. Rhumbline Advisers now owns 78,903 shares of the company’s stock valued at $222,000 after buying an additional 5,430 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Generation Bio by 91.0% during the second 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 last quarter. PFG Advisors purchased a new position in Generation Bio during the first quarter valued at $41,000. The Manufacturers Life Insurance Company increased its holdings in Generation Bio by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 164,573 shares of the company’s stock valued at $464,000 after acquiring an additional 13,104 shares during the last quarter. Finally, Artal Group S.A. lifted its stake in Generation Bio by 0.6% in the 1st quarter. Artal Group S.A. now owns 2,830,591 shares of the company’s stock worth $11,521,000 after purchasing an additional 16,400 shares in 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.