Generate Biomedicines Inc (NASDAQ:GENB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Generate Biomedicines Inc (NASDAQ:GENB) has received an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $26.40.

GENB has been the topic of several recent research reports. Weiss Ratings began coverage on shares of Generate Biomedicines in a report on Tuesday, August 11th. They issued a “sell (d)” rating on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Generate Biomedicines in a research note on Tuesday, September 8th. Finally, Wall Street Zen lowered Generate Biomedicines from a “hold” rating to a “sell” rating in a research note on Saturday.

Institutional Trading of Generate Biomedicines

A number of hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System purchased a new stake in Generate Biomedicines in the second quarter valued at approximately $96,000. Susquehanna International Group LLP acquired a new stake in Generate Biomedicines in the 2nd quarter valued at $196,000. AXQ Capital LP purchased a new stake in shares of Generate Biomedicines during the 2nd quarter valued at about $218,000. Squarepoint Ops LLC purchased a new stake in shares of Generate Biomedicines during the second quarter valued at approximately $530,000. Finally, Bank of New York Mellon Corp purchased a new stake in Generate Biomedicines during the 2nd quarter worth $967,000.

Generate Biomedicines Trading Up 1.8%

Shares of GENB stock opened at $16.00 on Tuesday. The stock has a market capitalization of $2.05 billion and a PE ratio of -10.06. Generate Biomedicines has a fifty-two week low of $11.00 and a fifty-two week high of $22.67. The firm has a fifty day moving average price of $15.12.

Generate Biomedicines (NASDAQ:GENB) last released 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 company had revenue of $6.31 million for the quarter. Analysts forecast that Generate Biomedicines will post -2.29 EPS for the current year.

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.