Deep Track Capital LP Sells 3,563,762 Shares of Geron Co. (NASDAQ:GERN)

Deep Track Capital LP decreased its stake in Geron Co. (NASDAQ:GERN - Free Report) by 47.0% in the 4th quarter, according to the company in its most recent 13F 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 period. Deep Track Capital LP owned about 0.66% of Geron worth $14,200,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new position in shares of Geron during the fourth quarter worth about $28,000. Integrated Wealth Concepts LLC bought a new stake in shares of Geron in the 4th quarter valued at $36,000. Fifth Lane Capital LP bought a new stake in shares of Geron in the 4th quarter valued at $53,000. Rovin Capital UT ADV boosted its stake 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 valued at $61,000 after purchasing an additional 3,660 shares during the last quarter. Finally, Harvest Investment Services LLC bought a new stake in shares of Geron in the 4th quarter valued at $61,000. Institutional investors and hedge funds own 73.71% of the company's stock.

Geron Stock Performance

Shares of GERN stock traded up $0.12 during trading hours on Monday, hitting $1.30. 7,244,235 shares of the company were exchanged, compared to its average volume of 11,550,475. The firm has a fifty day simple moving average of $1.49 and a 200 day simple moving average of $2.72. Geron Co. has a 52-week low of $1.17 and a 52-week high of $5.34. The stock has a market capitalization of $824.81 million, a price-to-earnings ratio of -4.05 and a beta of 0.76. The company has a current ratio of 2.89, a quick ratio of 2.74 and a debt-to-equity ratio of 0.04.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Scotiabank lowered shares of Geron from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $4.00 to $1.50 in a research note on Thursday. Stifel Nicolaus dropped their target price on shares of Geron from $8.00 to $4.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Barclays restated an "overweight" rating and set a $4.00 price objective (down previously from $9.00) on shares of Geron in a report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $5.00 price objective on shares of Geron in a report on Wednesday, March 12th. Finally, B. Riley downgraded shares of Geron from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $3.50 to $2.00 in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $5.06.

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.