Ally Bridge Group NY LLC Has $3.27 Million Holdings in Geron Corporation $GERN

Key Points

• Ally Bridge Group NY LLC significantly increased its holdings in Geron Corporation by 91.3% in the first quarter, owning approximately $3.27 million worth of shares, which constitutes 2.9% of its investment portfolio.
• Geron has experienced mixed analyst ratings, with one strong buy, four buy, three hold, and one sell rating, and an average price target of $4.19, despite Goldman Sachs setting a sell rating with a price target of $1.00.
• The company reported a remarkable 5455.6% increase in revenue year-over-year, achieving $49.04 million for the latest quarter, while beating earnings estimates with an EPS of ($0.02).

Ally Bridge Group NY LLC increased its position in Geron Corporation (NASDAQ:GERN - Free Report) by 91.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,056,637 shares of the biopharmaceutical company's stock after buying an additional 981,813 shares during the quarter. Geron comprises approximately 2.9% of Ally Bridge Group NY LLC's holdings, making the stock its 14th largest position. Ally Bridge Group NY LLC owned approximately 0.32% of Geron worth $3,270,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in shares of Geron by 8.8% in the fourth quarter. Ameriprise Financial Inc. now owns 3,064,458 shares of the biopharmaceutical company's stock valued at $10,845,000 after buying an additional 247,018 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Geron in the fourth quarter valued at $247,000. Stifel Financial Corp lifted its holdings in shares of Geron by 29.9% in the fourth quarter. Stifel Financial Corp now owns 61,658 shares of the biopharmaceutical company's stock valued at $218,000 after buying an additional 14,181 shares during the period. 111 Capital acquired a new stake in shares of Geron in the fourth quarter valued at $52,000. Finally, Stonepine Capital Management LLC acquired a new stake in shares of Geron in the first quarter valued at $795,000. Institutional investors and hedge funds own 73.71% of the company's stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group started coverage on Geron in a research report on Thursday, July 10th. They set a "sell" rating and a $1.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Geron has a consensus rating of "Moderate Buy" and a consensus target price of $4.19.

Geron Trading Up 1.4%

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

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

Geron 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.