HC Wainwright Reaffirms “Buy” Rating for Generate Biomedicines (NASDAQ:GENB)

Generate Biomedicines (NASDAQ:GENB)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They presently have a $30.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 119.76% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Weiss Ratings raised Generate Biomedicines from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Wall Street Zen upgraded Generate Biomedicines from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.40.

Generate Biomedicines Trading Down 1.1%

Shares of NASDAQ:GENB traded down $0.15 on Monday, reaching $13.65. The company had a trading volume of 621,943 shares, compared to its average volume of 844,391. The firm has a market capitalization of $1.75 billion and a PE ratio of -8.58. Generate Biomedicines has a 52-week low of $11.00 and a 52-week high of $22.67. The firm’s 50 day simple moving average is $15.55 and its 200-day simple moving average is $14.38.

Generate Biomedicines (NASDAQ:GENB) last posted its earnings results on Thursday, August 6th. The company reported ($0.52) earnings per share (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. As a group, equities 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 hedge funds and other institutional investors have recently made changes to their positions in the business. Susquehanna International Group LLP purchased a new position in shares of Generate Biomedicines during the second quarter worth $196,000. AXQ Capital LP acquired a new stake in Generate Biomedicines during the 2nd quarter worth about $218,000. Squarepoint Ops LLC acquired a new position in shares of Generate Biomedicines in the 2nd quarter valued at about $530,000. Bank of New York Mellon Corp purchased a new stake in shares of Generate Biomedicines in the second quarter worth about $967,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Generate Biomedicines in the second quarter worth about $1,431,000.

About Generate Biomedicines

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.