Generate Biomedicines (NASDAQ:GENB) Rating Lowered to Sell at Wall Street Zen

Generate Biomedicines (NASDAQ:GENB) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently issued reports on GENB. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Generate Biomedicines in a report on Monday, October 5th. Weiss Ratings raised Generate Biomedicines from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.40.

Generate Biomedicines Price Performance

Generate Biomedicines stock opened at $12.09 on Friday. Generate Biomedicines has a 52-week low of $11.00 and a 52-week high of $22.67. The stock has a fifty day moving average price of $15.42 and a two-hundred day moving average price of $14.43. The firm has a market capitalization of $1.55 billion and a P/E ratio of -7.60.

Generate Biomedicines (NASDAQ:GENB) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). The business had revenue of $6.31 million for the quarter. On average, equities research analysts predict that Generate Biomedicines will post -2.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GENB. Banque Pictet & Cie SA acquired a new stake in shares of Generate Biomedicines in the third quarter valued at about $26,631,000. State Street Corp acquired a new position in Generate Biomedicines during the second quarter worth approximately $8,883,000. The Manufacturers Life Insurance Company bought a new position in shares of Generate Biomedicines during the 2nd quarter worth approximately $1,431,000. Squarepoint Ops LLC acquired a new stake in Generate Biomedicines during the 2nd quarter valued at $530,000. Finally, AXQ Capital LP acquired a new position in shares of Generate Biomedicines in the second quarter valued at $218,000.

About Generate Biomedicines

Generate Biomedicines is a biotechnology company focused on discovering and developing protein-based medicines. The company uses generative artificial intelligence, machine learning and laboratory-based biological research to design new therapeutic proteins and identify candidates with potential applications in a range of diseases.

Its platform, often described as a generative biology approach, is designed to model biological systems and create proteins with desired characteristics rather than relying solely on modifying naturally occurring molecules.