Wall Street Zen Downgrades Generate Biomedicines (NASDAQ:GENB) to Sell

Generate Biomedicines (NASDAQ:GENB) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley increased their price target on Generate Biomedicines from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. HC Wainwright boosted their price objective on Generate Biomedicines from $16.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.40.

Generate Biomedicines Stock Performance

Shares of NASDAQ GENB opened at $14.35 on Friday. The company’s 50 day simple moving average is $14.45. The firm has a market cap of $1.84 billion and a PE ratio of -13.41. Generate Biomedicines has a 12 month low of $11.00 and a 12 month high of $18.18.

Generate Biomedicines (NASDAQ:GENB) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). The firm had revenue of $6.31 million for the quarter. Sell-side analysts forecast that Generate Biomedicines will post -2.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Generate Biomedicines

A hedge fund recently bought a new stake in Generate Biomedicines stock. Bank of New York Mellon Corp acquired a new stake in Generate Biomedicines Inc (NASDAQ:GENB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 57,326 shares of the company’s stock, valued at approximately $967,000.

Generate Biomedicines Company Profile

Generate Biomedicines, Inc (NASDAQ: GENB) is a biotechnology company that applies machine learning and generative artificial intelligence to the design and discovery of novel therapeutics. The company develops computational platforms to create and optimize protein sequences and biological molecules with the goal of producing new medicines across a range of modalities. Its core activities center on algorithm-driven design, iterative experimental validation, and the translation of computational outputs into candidate therapeutic molecules.

Generate’s technology combines advanced computational models with high-throughput laboratory methods to accelerate discovery and improve the likelihood of producing viable drug candidates.