Generate Biomedicines (NASDAQ:GENB) Earns “Buy” Rating from HC Wainwright

Generate Biomedicines (NASDAQ:GENB)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $30.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 87.97% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Generate Biomedicines from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Weiss Ratings assumed coverage on Generate Biomedicines in a research report on Tuesday, August 11th. They set a “sell (d)” rating on the stock. Finally, Morgan Stanley increased their price target on shares of Generate Biomedicines from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.40.

Generate Biomedicines Stock Performance

Shares of NASDAQ:GENB traded down $0.43 during trading on Tuesday, hitting $15.96. 684,195 shares of the company’s stock were exchanged, compared to its average volume of 782,372. The firm has a market capitalization of $2.05 billion and a P/E ratio of -9.99. Generate Biomedicines has a 52-week low of $11.00 and a 52-week high of $22.67. The firm has a 50-day moving average of $15.26.

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

Institutional Investors Weigh In On Generate Biomedicines

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

Generate Biomedicines Company Profile

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.