Generate Biomedicines (NASDAQ:GENB) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Generate Biomedicines (NASDAQ:GENB) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other research analysts have also weighed in on GENB. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Generate Biomedicines in a report on Tuesday, September 8th. Weiss Ratings started coverage on shares of Generate Biomedicines in a research report on Tuesday, August 11th. They set a “sell (d)” rating for the company. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.40.

Generate Biomedicines Stock Performance

NASDAQ:GENB opened at $15.72 on Friday. Generate Biomedicines has a twelve month low of $11.00 and a twelve month high of $22.67. The stock has a market cap of $2.02 billion and a P/E ratio of -9.89. The stock’s 50 day moving average is $15.14.

Generate Biomedicines (NASDAQ:GENB) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.04). The firm had revenue of $6.31 million for the quarter. As a group, research analysts anticipate that Generate Biomedicines will post -2.29 earnings per share for the current fiscal year.

Institutional Trading of Generate Biomedicines

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new stake in Generate Biomedicines during the second quarter worth $967,000. Susquehanna International Group LLP purchased a new position in Generate Biomedicines in the second quarter valued at $196,000. Braidwell LP acquired a new position in shares of Generate Biomedicines in the second quarter worth about $55,398,000. AXQ Capital LP acquired a new position in shares of Generate Biomedicines in the second quarter worth about $218,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Generate Biomedicines during the 2nd quarter worth about $96,000.

About Generate Biomedicines

Generate Biomedicines is a biotechnology company that uses generative artificial intelligence and machine learning to discover and design protein-based medicines. Its technology is intended to model relationships among protein sequences, structures and biological functions, helping researchers create therapeutic proteins with desired characteristics.

The company’s research activities are focused on developing novel biologic medicines for areas of significant unmet medical need, including oncology, immunology, infectious diseases and rare diseases.