Generation Bio Co. (NASDAQ:GBIO) Sees Significant Drop in Short Interest

Generation Bio Co. (NASDAQ:GBIO) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 1,480,000 shares, a decrease of 10.8% from the October 31st total of 1,660,000 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average daily volume of 129,800 shares, the days-to-cover ratio is presently 11.4 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GBIO. Rhumbline Advisers raised its stake in Generation Bio by 7.4% during the second quarter. Rhumbline Advisers now owns 78,903 shares of the company’s stock valued at $222,000 after purchasing an additional 5,430 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 acquiring an additional 8,692 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Generation Bio by 91.0% in the second quarter. Cubist Systematic Strategies LLC now owns 19,046 shares of the company’s stock worth $54,000 after acquiring an additional 9,075 shares in the last quarter. State Street Corp increased its stake in Generation Bio by 1.2% during the third quarter. State Street Corp now owns 992,188 shares of the company’s stock worth $2,451,000 after acquiring an additional 11,669 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Generation Bio by 8.7% during the second quarter. The Manufacturers Life Insurance Company now owns 164,573 shares of the company’s stock valued at $464,000 after purchasing an additional 13,104 shares during the period. 95.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GBIO has been the topic of several recent analyst reports. Wedbush reiterated an “outperform” rating and set a $5.00 price objective on shares of Generation Bio in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of Generation Bio in a research note on Wednesday, October 23rd.

Generation Bio Stock Performance

NASDAQ GBIO traded down $0.05 during trading on Tuesday, hitting $1.37. 403,896 shares of the stock traded hands, compared to its average volume of 182,021. Generation Bio has a 12-month low of $1.24 and a 12-month high of $4.65. The firm has a 50-day simple moving average of $2.09 and a 200-day simple moving average of $2.55.

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.