Generation Bio (NASDAQ:GBIO) Trading Down 5.2%


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Generation Bio Co. (NASDAQ:GBIO)’s stock price traded down 5.2% on Tuesday . The stock traded as low as $29.25 and last traded at $29.48. 11,802 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 710,812 shares. The stock had previously closed at $31.09.

Several equities analysts have commented on GBIO shares. William Blair began coverage on shares of Generation Bio in a research note on Monday, March 1st. They issued an “outperform” rating and a $45.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Generation Bio from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Monday, March 22nd. Finally, Needham & Company LLC began coverage on shares of Generation Bio in a research report on Thursday, February 25th. They issued a “buy” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $40.60.

The firm’s 50-day simple moving average is $33.17 and its 200 day simple moving average is $31.78.

Generation Bio (NASDAQ:GBIO) last issued its earnings results on Wednesday, March 17th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.23. On average, analysts forecast that Generation Bio Co. will post -2.89 EPS for the current year.

In other news, insider Douglas Kerr sold 11,267 shares of Generation Bio stock in a transaction on Monday, January 11th. The stock was sold at an average price of $27.58, for a total transaction of $310,743.86. Following the completion of the transaction, the insider now owns 337,825 shares of the company’s stock, valued at approximately $9,317,213.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Donald William Nicholson purchased 4,081 shares of the business’s stock in a transaction dated Monday, January 11th. The shares were purchased at an average cost of $24.50 per share, with a total value of $99,984.50. Following the purchase, the director now directly owns 103,157 shares in the company, valued at $2,527,346.50. The disclosure for this purchase can be found here. Insiders have sold a total of 41,469 shares of company stock worth $1,284,556 over the last 90 days.

Several large investors have recently added to or reduced their stakes in GBIO. Wells Fargo & Company MN acquired a new position in shares of Generation Bio during the 3rd quarter worth $291,000. California Public Employees Retirement System acquired a new position in shares of Generation Bio during the 3rd quarter worth $768,000. BlackRock Inc. raised its stake in Generation Bio by 3,342.3% in the 3rd quarter. BlackRock Inc. now owns 671,243 shares of the company’s stock valued at $20,747,000 after purchasing an additional 651,743 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Generation Bio in the 3rd quarter valued at about $203,000. Finally, State Street Corp acquired a new position in Generation Bio in the 3rd quarter valued at about $4,456,000. 63.26% of the stock is owned by institutional investors and hedge funds.

About Generation Bio (NASDAQ:GBIO)

Generation Bio Co, a genetic medicines company, develops gene therapies for the treatment of rare and prevalent diseases. The company is developing a portfolio of programs for rare and prevalent diseases of the liver and retina. It also focuses on the diseases of skeletal muscle, central nervous system, and oncology.

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