Generate Biomedicines Inc (NASDAQ:GENB) Stock Has Consensus Price Target of $26.40 According to Brokerages

Shares of Generate Biomedicines Inc (NASDAQ:GENB) have received an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $26.40.

Several research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Generate Biomedicines from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Wall Street Zen downgraded shares of Generate Biomedicines from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Finally, HC Wainwright restated a “buy” rating on shares of Generate Biomedicines in a research note on Friday.

Generate Biomedicines Stock Up 4.8%

Generate Biomedicines stock opened at $13.85 on Wednesday. The business has a 50-day simple moving average of $14.86 and a two-hundred day simple moving average of $14.15. Generate Biomedicines has a 52-week low of $11.00 and a 52-week high of $22.67. The company has a market cap of $1.78 billion and a P/E ratio of -8.71.

Generate Biomedicines (NASDAQ:GENB) last announced its earnings results on Thursday, August 6th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.04). The company had revenue of $6.31 million for the quarter. Research analysts anticipate that Generate Biomedicines will post -2.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GENB. Braidwell LP purchased a new position in shares of Generate Biomedicines during the 2nd quarter valued at about $55,398,000. Banque Pictet & Cie SA purchased a new stake in Generate Biomedicines in the 3rd quarter worth approximately $26,631,000. State Street Corp purchased a new stake in Generate Biomedicines in the 2nd quarter worth approximately $8,883,000. Alps Advisors Inc. raised its stake in Generate Biomedicines by 31.4% during the 3rd quarter. Alps Advisors Inc. now owns 170,042 shares of the company’s stock worth $2,554,000 after acquiring an additional 40,636 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in Generate Biomedicines during the 2nd quarter worth approximately $1,431,000.

About Generate Biomedicines

Generate Biomedicines is a biotechnology company that uses generative artificial intelligence, machine learning and protein engineering to design novel protein-based medicines. Its platform is intended to identify and develop therapeutic proteins with desired biological properties, potentially shortening the time required to discover new drug candidates.

The company’s research activities focus on applying computational biology and laboratory experimentation to create medicines for a range of diseases, including conditions in immunology, inflammation, oncology and other areas of significant unmet medical need.