Generate Biomedicines (NASDAQ:GENB) Stock Keeps Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Generate Biomedicines (NASDAQ:GENB) in a report released on Monday morning,Benzinga reports. The firm currently has a $30.00 price target on the stock.

GENB has been the topic of several other research reports. Weiss Ratings upgraded shares of Generate Biomedicines from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. Wall Street Zen upgraded shares of Generate Biomedicines from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.40.

Generate Biomedicines Price Performance

Generate Biomedicines stock opened at $13.91 on Monday. The company has a market capitalization of $1.79 billion and a PE ratio of -8.75. Generate Biomedicines has a one year low of $11.00 and a one year high of $22.67. The business has a 50 day simple moving average of $15.54 and a 200 day simple moving average of $14.37.

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

Hedge Funds Weigh In On Generate Biomedicines

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP bought a new stake in shares of Generate Biomedicines during the second quarter worth $196,000. AXQ Capital LP bought a new stake in Generate Biomedicines during the 2nd quarter worth about $218,000. Squarepoint Ops LLC acquired a new stake in Generate Biomedicines in the 2nd quarter valued at about $530,000. Bank of New York Mellon Corp bought a new position in shares of Generate Biomedicines in the second quarter worth about $967,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Generate Biomedicines in the second quarter worth about $1,431,000.

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.