Generate Biomedicines (NASDAQ:GENB) Raised to Hold at Wall Street Zen

Generate Biomedicines (NASDAQ:GENB) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued reports about the company. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Generate Biomedicines in a report on Tuesday, September 8th. Weiss Ratings began coverage on Generate Biomedicines in a research report on Tuesday, August 11th. They issued a “sell (d)” rating for the company. Six research 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.40.

Generate Biomedicines Price Performance

GENB opened at $15.15 on Friday. Generate Biomedicines has a 12 month low of $11.00 and a 12 month high of $22.67. The company has a fifty day simple moving average of $15.46 and a 200 day simple moving average of $14.29. The stock has a market cap of $1.94 billion and a P/E ratio of -9.53.

Generate Biomedicines (NASDAQ:GENB) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.04). The company had revenue of $6.31 million during the quarter. On average, equities research analysts expect that Generate Biomedicines will post -2.29 earnings per share for the current fiscal year.

Institutional Trading of Generate Biomedicines

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Braidwell LP acquired a new position in shares of Generate Biomedicines during the 2nd quarter worth approximately $55,398,000. State Street Corp acquired a new stake in shares of Generate Biomedicines in the 2nd quarter valued at approximately $8,883,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Generate Biomedicines in the 2nd quarter valued at approximately $1,431,000. Bank of New York Mellon Corp bought a new position in shares of Generate Biomedicines in the second quarter valued at $967,000. Finally, Squarepoint Ops LLC acquired a new position in Generate Biomedicines during the second quarter worth $530,000.

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.