JMP Securities assumed coverage on shares of Generation Bio (NASDAQ:GBIO) in a research report sent to investors on Tuesday morning, Price Targets.com reports. The firm issued an outperform rating and a $40.00 target price on the stock.
GBIO has been the subject of a number of other reports. William Blair assumed coverage on Generation Bio in a research report on Tuesday, February 23rd. They issued an outperform rating and a $45.00 price target for the company. Needham & Company LLC assumed coverage on Generation Bio in a research report on Thursday, February 18th. They issued a buy rating and a $50.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on Generation Bio from $34.00 to $39.00 and gave the stock an overweight rating in a research report on Monday, March 22nd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $40.50.
NASDAQ GBIO opened at $27.31 on Tuesday. The company has a market cap of $1.55 billion and a P/E ratio of -9.26. Generation Bio has a one year low of $17.00 and a one year high of $55.72. The firm’s 50 day moving average price is $31.08.
In other news, insider Matthew Stanton sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 27th. The stock was sold at an average price of $34.05, for a total transaction of $51,075.00. Following the transaction, the insider now owns 199,654 shares in the company, valued at $6,798,218.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Venture Associates X. L. Atlas sold 39,864 shares of the firm’s stock in a transaction on Wednesday, April 7th. The shares were sold at an average price of $28.51, for a total value of $1,136,522.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,249 shares of company stock worth $8,365,677. Insiders own 23.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new position in shares of Generation Bio during the first quarter valued at $218,000. Voloridge Investment Management LLC purchased a new position in shares of Generation Bio during the first quarter valued at $3,640,000. D. E. Shaw & Co. Inc. increased its stake in shares of Generation Bio by 719.8% during the first quarter. D. E. Shaw & Co. Inc. now owns 134,060 shares of the company’s stock valued at $3,815,000 after buying an additional 117,707 shares during the period. State of Wisconsin Investment Board increased its stake in shares of Generation Bio by 213.9% during the first quarter. State of Wisconsin Investment Board now owns 54,300 shares of the company’s stock valued at $1,545,000 after buying an additional 37,000 shares during the period. Finally, Jane Street Group LLC purchased a new position in Generation Bio in the first quarter valued at about $345,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.
About Generation Bio
Generation Bio Co, a genetic medicines company, develops gene therapies for the treatment of rare and prevalent diseases. The company is developing a portfolio of programs for rare and prevalent diseases of the liver and retina. It also focuses on the diseases of skeletal muscle, central nervous system, and oncology.
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