Generate Biomedicines (NASDAQ:GENB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Generate Biomedicines (NASDAQ:GENB) from a sell rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. Weiss Ratings began coverage on shares of Generate Biomedicines in a report on Tuesday, August 11th. They set a “sell (d)” rating on the stock. Morgan Stanley lifted their target price on Generate Biomedicines from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Finally, HC Wainwright upped their price target on Generate Biomedicines from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Generate Biomedicines currently has a consensus rating of “Moderate Buy” and an average price target of $26.40.

Generate Biomedicines Stock Performance

NASDAQ:GENB opened at $15.27 on Friday. The business’s 50-day moving average price is $15.26. Generate Biomedicines has a 1-year low of $11.00 and a 1-year high of $22.67. The company has a market capitalization of $1.96 billion and a PE ratio of -9.60.

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

Institutional Trading of Generate Biomedicines

Several hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System bought a new position in Generate Biomedicines during the second quarter worth $96,000. Susquehanna International Group LLP acquired a new position in shares of Generate Biomedicines during the second quarter valued at about $196,000. AXQ Capital LP bought a new position in shares of Generate Biomedicines during the 2nd quarter worth about $218,000. Bank of New York Mellon Corp acquired a new stake in shares of Generate Biomedicines in the 2nd quarter valued at about $967,000. Finally, Braidwell LP bought a new stake in Generate Biomedicines in the 2nd quarter valued at about $55,398,000.

About Generate Biomedicines

Generate Biomedicines, Inc (NASDAQ: GENB) is a biotechnology company that applies machine learning and generative artificial intelligence to the design and discovery of novel therapeutics. The company develops computational platforms to create and optimize protein sequences and biological molecules with the goal of producing new medicines across a range of modalities. Its core activities center on algorithm-driven design, iterative experimental validation, and the translation of computational outputs into candidate therapeutic molecules.

Generate’s technology combines advanced computational models with high-throughput laboratory methods to accelerate discovery and improve the likelihood of producing viable drug candidates.