Generate Biomedicines Inc (NASDAQ:GENB) Stock Has Average Target Price of $26.40

Shares of Generate Biomedicines Inc (NASDAQ:GENB) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $26.40.

A number of research firms have issued reports on GENB. Weiss Ratings upgraded Generate Biomedicines from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 25th. Wall Street Zen upgraded shares of Generate Biomedicines from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Generate Biomedicines in a research report on Monday, October 5th.

Hedge Funds Weigh In On Generate Biomedicines

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

Generate Biomedicines Stock Up 2.5%

GENB stock opened at $14.34 on Friday. The firm has a market cap of $1.84 billion and a price-to-earnings ratio of -9.02. The company’s fifty day simple moving average is $15.57 and its 200 day simple moving average is $14.41. Generate Biomedicines has a 12-month low of $11.00 and a 12-month high of $22.67.

Generate Biomedicines (NASDAQ:GENB) last released its earnings results 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. Research analysts expect that Generate Biomedicines will post -2.29 earnings per share for the current year.

Generate Biomedicines Company Profile

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.