Generation Bio Co. (NASDAQ:GBIO) Short Interest Down 34.4% in March

Generation Bio Co. (NASDAQ:GBIO) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 1,680,000 shares, a decrease of 34.4% from the February 28th total of 2,560,000 shares. Based on an average daily trading volume, of 540,400 shares, the short-interest ratio is currently 3.1 days. Currently, 3.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GBIO. Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of Generation Bio in a report on Friday, March 14th. Canaccord Genuity Group restated a “buy” rating and issued a $9.00 price target on shares of Generation Bio in a research report on Monday, March 17th. Finally, Wedbush restated an “outperform” rating and set a $5.00 target price on shares of Generation Bio in a research report on Friday, March 14th.

Generation Bio Trading Down 6.4 %

Shares of NASDAQ GBIO traded down $0.03 during trading hours on Friday, reaching $0.43. The stock had a trading volume of 558,689 shares, compared to its average volume of 257,951. The business’s fifty day moving average price is $0.65 and its two-hundred day moving average price is $1.39. The firm has a market cap of $28.67 million, a price-to-earnings ratio of -0.20 and a beta of 2.72. Generation Bio has a 52-week low of $0.41 and a 52-week high of $4.65.

Generation Bio (NASDAQ:GBIO) last announced its earnings results on Wednesday, March 19th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.01). The company had revenue of $4.19 million for the quarter, compared to the consensus estimate of $2.92 million. Generation Bio had a negative net margin of 782.86% and a negative return on equity of 104.85%. Equities research analysts anticipate that Generation Bio will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Generation Bio

In other Generation Bio news, Director Anthony G. Quinn purchased 125,791 shares of the business’s stock in a transaction on Friday, January 10th. The stock was acquired at an average price of $0.96 per share, for a total transaction of $120,759.36. Following the purchase, the director now owns 214,286 shares of the company’s stock, valued at approximately $205,714.56. This represents a 142.14 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 21.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Generation Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Generation Bio by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,299 shares of the company’s stock valued at $1,046,000 after buying an additional 8,692 shares in the last quarter. State Street Corp lifted its position in Generation Bio by 1.2% during the third quarter. State Street Corp now owns 992,188 shares of the company’s stock valued at $2,451,000 after acquiring an additional 11,669 shares during the last quarter. FMR LLC grew its holdings in Generation Bio by 0.3% in the third quarter. FMR LLC now owns 5,320,266 shares of the company’s stock worth $13,141,000 after purchasing an additional 15,656 shares during the last quarter. Intech Investment Management LLC purchased a new position in Generation Bio in the fourth quarter worth $25,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Generation Bio by 13.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 311,535 shares of the company’s stock worth $330,000 after purchasing an additional 38,090 shares in the last quarter. Hedge funds and other institutional investors own 95.22% of the company’s stock.

About Generation Bio

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.