Generation Bio downgraded to Market Perform from Outperform at TD Cowen

TD Cowen downgraded Generation Bio to Market Perform from Outperform without a price target. The analyst says today’s updates on reducing immunogenicity of the non-viral gene therapy platform are important steps in the right direction but push out the timing to Generation’ first investigational new drug application until fiscal 2026. The firm is moving to the sidelines pending better clarity on the timing and outlook for the company’s platform and clinical development plan.