Geron Co. (NASDAQ:GERN) Stock Position Lowered by Deep Track Capital LP

Deep Track Capital LP trimmed its stake in shares of Geron Co. (NASDAQ:GERN - Free Report) by 47.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,011,287 shares of the biopharmaceutical company's stock after selling 3,563,762 shares during the quarter. Deep Track Capital LP owned approximately 0.66% of Geron worth $14,200,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in shares of Geron by 114.9% during the third quarter. Barclays PLC now owns 1,299,912 shares of the biopharmaceutical company's stock worth $5,902,000 after purchasing an additional 694,931 shares during the last quarter. Moody National Bank Trust Division lifted its holdings in Geron by 76.6% during the 4th quarter. Moody National Bank Trust Division now owns 267,629 shares of the biopharmaceutical company's stock worth $947,000 after buying an additional 116,074 shares during the last quarter. Elmwood Wealth Management Inc. bought a new position in Geron during the 4th quarter worth approximately $93,000. Rovin Capital UT ADV grew its position in shares of Geron by 26.9% in the 4th quarter. Rovin Capital UT ADV now owns 17,270 shares of the biopharmaceutical company's stock worth $61,000 after acquiring an additional 3,660 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Geron by 18.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 403,703 shares of the biopharmaceutical company's stock valued at $1,429,000 after acquiring an additional 61,819 shares during the last quarter. 73.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GERN shares. Barclays reaffirmed an "overweight" rating and issued a $4.00 price objective (down previously from $9.00) on shares of Geron in a report on Thursday, February 27th. B. Riley lowered shares of Geron from a "buy" rating to a "neutral" rating and decreased their price target for the company from $3.50 to $2.00 in a report on Thursday, February 27th. HC Wainwright reaffirmed a "neutral" rating on shares of Geron in a research report on Wednesday, March 12th. Scotiabank cut shares of Geron from a "sector outperform" rating to a "sector perform" rating and cut their target price for the stock from $4.00 to $1.50 in a report on Thursday. Finally, Stifel Nicolaus decreased their target price on Geron from $8.00 to $4.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.06.

Geron Stock Performance

GERN stock traded down $0.08 on Friday, reaching $1.19. The company's stock had a trading volume of 15,881,160 shares, compared to its average volume of 11,535,852. Geron Co. has a 52 week low of $1.17 and a 52 week high of $5.34. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 2.74. The company has a market capitalization of $754.74 million, a P/E ratio of -3.70 and a beta of 0.76. The firm has a fifty day moving average of $1.49 and a two-hundred day moving average of $2.73.

Geron (NASDAQ:GERN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. The company had revenue of $39.60 million for the quarter, compared to analyst estimates of $49.88 million. Geron had a negative return on equity of 67.53% and a negative net margin of 682.48%. The company's quarterly revenue was up 12927.3% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share. As a group, analysts predict that Geron Co. will post -0.25 EPS for the current fiscal year.

About Geron

Geron Corporation, a late-stage clinical biopharmaceutical company, focuses on the development and commercialization of therapeutics for myeloid hematologic malignancies. It develops imetelstat, a telomerase inhibitor that is in Phase 3 clinical trials, which inhibits the uncontrolled proliferation of malignant stem and progenitor cells in myeloid hematologic malignancies for the treatment of low or intermediate-1 risk myelodysplastic syndromes and intermediate-2 or high-risk myelofibrosis.