683 Capital Management LLC Makes New $4.53 Million Investment in Geron Corporation $GERN

Key Points

• 683 Capital Management LLC has acquired a new stake in Geron Corporation, purchasing 2,850,000 shares valued at approximately $4.5 million, representing about 0.45% of the company's stock.
• Geron Corporation's revenue surged significantly, achieving a 5455.6% increase year-over-year, with a reported revenue of $49.04 million and an EPS of ($0.02) for the last quarter.
• Analysts have mixed ratings on Geron stock, with a current consensus rating of "Moderate Buy" and a price target averaging $4.19, despite Goldman Sachs issuing a "sell" rating with a target price of $1.00.

683 Capital Management LLC purchased a new stake in shares of Geron Corporation (NASDAQ:GERN - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,850,000 shares of the biopharmaceutical company's stock, valued at approximately $4,532,000. 683 Capital Management LLC owned about 0.45% of Geron as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GERN. Ameriprise Financial Inc. boosted its stake in shares of Geron by 8.8% in the 4th quarter. Ameriprise Financial Inc. now owns 3,064,458 shares of the biopharmaceutical company's stock worth $10,845,000 after buying an additional 247,018 shares during the last quarter. Raymond James Financial Inc. bought a new position in Geron in the 4th quarter valued at $247,000. Stifel Financial Corp raised its stake in shares of Geron by 29.9% during the 4th quarter. Stifel Financial Corp now owns 61,658 shares of the biopharmaceutical company's stock worth $218,000 after purchasing an additional 14,181 shares during the period. 111 Capital purchased a new position in shares of Geron in the 4th quarter worth about $52,000. Finally, Stonepine Capital Management LLC bought a new position in Geron during the first quarter valued at about $795,000. 73.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group began coverage on shares of Geron in a report on Thursday, July 10th. They issued a "sell" rating and a $1.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Geron presently has a consensus rating of "Moderate Buy" and an average target price of $4.19.

Geron Price Performance

NASDAQ GERN traded up $0.02 on Friday, hitting $1.40. The stock had a trading volume of 5,100,609 shares, compared to its average volume of 7,860,624. The firm has a 50-day moving average of $1.34 and a 200-day moving average of $1.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.79 and a current ratio of 7.87. Geron Corporation has a 52-week low of $1.09 and a 52-week high of $4.83. The company has a market capitalization of $893.23 million, a price-to-earnings ratio of -10.77 and a beta of 0.63.

Geron (NASDAQ:GERN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. Geron had a negative return on equity of 31.37% and a negative net margin of 53.52%.The company had revenue of $49.04 million during the quarter, compared to analyst estimates of $47.30 million. During the same quarter last year, the company earned ($0.10) earnings per share. The firm's quarterly revenue was up 5455.6% on a year-over-year basis. Equities analysts expect that Geron Corporation will post -0.25 EPS for the current year.

Geron Company Profile

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.