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

Generate Biomedicines Inc (NASDAQ:GENB) has received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One 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 objective among brokers that have issued a report on the stock in the last year is $26.40.

A number of brokerages have recently issued reports on GENB. Wall Street Zen downgraded Generate Biomedicines from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. HC Wainwright reiterated a “buy” rating on shares of Generate Biomedicines in a report on Friday. Finally, Weiss Ratings raised Generate Biomedicines from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 25th.

Generate Biomedicines Trading Up 4.8%

GENB stock opened at $13.85 on Wednesday. The stock has a market capitalization of $1.78 billion and a PE ratio of -8.71. Generate Biomedicines has a 12-month low of $11.00 and a 12-month high of $22.67. The stock’s 50 day simple moving average is $14.86 and its 200 day simple moving average is $14.15.

Generate Biomedicines (NASDAQ:GENB) last issued 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 business had revenue of $6.31 million during the quarter. On average, research analysts predict that Generate Biomedicines will post -2.29 earnings per share for the current year.

Institutional Trading of Generate Biomedicines

A number of large investors have recently made changes to their positions in the stock. Banque Pictet & Cie SA bought a new position in Generate Biomedicines during the third quarter valued at approximately $26,631,000. State Street Corp purchased a new stake in Generate Biomedicines in the second quarter worth approximately $8,883,000. Braidwell LP purchased a new stake in Generate Biomedicines in the second quarter worth approximately $55,398,000. The Manufacturers Life Insurance Company bought a new stake in Generate Biomedicines in the 2nd quarter worth approximately $1,431,000. Finally, Squarepoint Ops LLC bought a new stake in Generate Biomedicines in the 2nd quarter worth approximately $530,000.

About Generate Biomedicines

Generate Biomedicines is a biotechnology company that uses generative artificial intelligence, machine learning and protein engineering to design novel protein-based medicines. Its platform is intended to identify and develop therapeutic proteins with desired biological properties, potentially shortening the time required to discover new drug candidates.

The company’s research activities focus on applying computational biology and laboratory experimentation to create medicines for a range of diseases, including conditions in immunology, inflammation, oncology and other areas of significant unmet medical need.