Generation Bio Co. (NASDAQ:GBIO – Get Free Report) shares shot up 10% on Thursday . The company traded as high as $4.29 and last traded at $4.07. 441,905 shares changed hands during mid-day trading, an increase of 57% from the average session volume of 280,852 shares. The stock had previously closed at $3.70.
Analysts Set New Price Targets
A number of research firms recently weighed in on GBIO. Wedbush restated an “outperform” rating and issued a $5.00 price target on shares of Generation Bio in a research note on Thursday, March 7th. Needham & Company LLC lowered their price objective on Generation Bio from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Generation Bio currently has an average rating of “Hold” and an average target price of $8.00.
Check Out Our Latest Research Report on GBIO
Generation Bio Stock Up 10.0 %
Institutional Investors Weigh In On Generation Bio
Hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank boosted its position in shares of Generation Bio by 7.4% during the first quarter. Swiss National Bank now owns 87,400 shares of the company’s stock valued at $642,000 after buying an additional 6,000 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Generation Bio by 17.5% during the 1st quarter. JPMorgan Chase & Co. now owns 660,275 shares of the company’s stock valued at $4,847,000 after buying an additional 98,270 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Generation Bio by 476.7% during the 1st quarter. MetLife Investment Management LLC now owns 19,788 shares of the company’s stock valued at $145,000 after purchasing an additional 16,357 shares during the period. Prelude Capital Management LLC bought a new stake in shares of Generation Bio during the 1st quarter valued at $74,000. Finally, PDT Partners LLC increased its stake in Generation Bio by 159.5% in the 1st quarter. PDT Partners LLC now owns 95,615 shares of the company’s stock worth $702,000 after acquiring an additional 58,772 shares during the last quarter. Institutional investors own 95.22% of the company’s stock.
Generation Bio Company Profile
Generation Bio Co develops non-viral genetic medicines for the treatment of rare and prevalent diseases. The company develops cell-targeted lipid nanoparticle (ctLNP) platform, a modular delivery system for nucleic acids to avoid off-target clearance by the liver and spleen that enables ctLNPs to persist in systemic circulation, which allows for highly selective and potent ligand-driven targeting to specific tissues and cell types; and novel immune-quiet DNA (iqDNA) to enable long-lasting high levels of gene expression from non-integrating episomes and avoids innate immune sensors that have long prevented DNA from use in non-viral systems.
Featured Articles
- Five stocks we like better than Generation Bio
- How to Invest in Insurance Companies: A Guide
- 3 Value Stocks Too Small For Buffett’s Portfolio
- 3 Stocks to Consider Buying in October
- Foot Locker Builds Up Another Head of Steam; Gains Imminent
- Business Services Stocks Investing
- Disney Stock Catches 3 Upgrades In a Single Week
Receive News & Ratings for Generation Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Generation Bio and related companies with MarketBeat.com's FREE daily email newsletter.