Generate Biomedicines (NASDAQ:GENB) Stock Rating Lowered by Wall Street Zen

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

A number of other equities research analysts also recently weighed in on GENB. Weiss Ratings started coverage on shares of Generate Biomedicines in a report on Tuesday, August 11th. They issued a “sell (d)” rating for the company. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Generate Biomedicines in a research note on Tuesday, September 8th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.40.

Generate Biomedicines Price Performance

GENB opened at $15.72 on Friday. The business has a 50 day moving average price of $15.14. The firm has a market capitalization of $2.02 billion and a P/E ratio of -9.89. Generate Biomedicines has a 1-year low of $11.00 and a 1-year high of $22.67.

Generate Biomedicines (NASDAQ:GENB) last issued its quarterly 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 firm had revenue of $6.31 million during the quarter. As a group, research analysts predict that Generate Biomedicines will post -2.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GENB. Braidwell LP purchased a new stake in shares of Generate Biomedicines in the 2nd quarter valued at approximately $55,398,000. Bank of New York Mellon Corp purchased a new position in Generate Biomedicines during the 2nd quarter worth approximately $967,000. Susquehanna International Group LLP acquired a new stake in shares of Generate Biomedicines in the second quarter worth $196,000. AXQ Capital LP acquired a new stake in shares of Generate Biomedicines in the second quarter worth $218,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Generate Biomedicines during the second quarter valued at $1,431,000.

Generate Biomedicines Company Profile

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.