Deutsche Bank AG Purchases New Position in Geron Corporation $GERN

Key Points

• Deutsche Bank acquired 3.44 million Geron shares worth approximately $4.4 million, giving it a 0.54% stake. Institutional investors and hedge funds collectively own 73.71% of Geron.
• Geron’s analyst consensus is “Hold”, with two Buy ratings, two Holds and one Sell rating; the average price target is $4.00.
• Geron reported quarterly revenue of $57.48 million, exceeding estimates, but missed adjusted EPS expectations with a loss of $0.02 per share. Its lead candidate, imetelstat, is undergoing Phase II and Phase III trials for blood cancers.

Deutsche Bank AG acquired a new position in shares of Geron Corporation (NASDAQ:GERN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,439,976 shares of the biopharmaceutical company's stock, valued at approximately $4,403,000. Deutsche Bank AG owned about 0.54% of Geron as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GERN. Soleus Capital Management L.P. increased its stake in shares of Geron by 572.5% in the 2nd quarter. Soleus Capital Management L.P. now owns 16,140,000 shares of the biopharmaceutical company's stock valued at $22,757,000 after purchasing an additional 13,740,000 shares during the last quarter. Nantahala Capital Management LLC bought a new stake in shares of Geron during the 3rd quarter valued at approximately $12,364,000. Millennium Management LLC increased its position in Geron by 97.8% during the 3rd quarter. Millennium Management LLC now owns 11,367,989 shares of the biopharmaceutical company's stock worth $15,574,000 after purchasing an additional 5,620,635 shares in the last quarter. Eversept Partners LP increased its position in Geron by 40.2% during the 4th quarter. Eversept Partners LP now owns 17,659,983 shares of the biopharmaceutical company's stock worth $23,311,000 after purchasing an additional 5,060,981 shares in the last quarter. Finally, RA Capital Management L.P. grew its stake in shares of Geron by 5.6% during the fourth quarter. RA Capital Management L.P. now owns 63,771,366 shares of the biopharmaceutical company's stock worth $84,178,000 after buying an additional 3,392,000 shares during the last quarter. Institutional investors and hedge funds own 73.71% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Geron from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Geron has an average rating of "Hold" and an average target price of $4.00.

Geron Stock Performance

NASDAQ GERN opened at $1.55 on Wednesday. The company has a market capitalization of $995.83 million, a price-to-earnings ratio of -14.09 and a beta of 0.61. The company has a quick ratio of 5.16, a current ratio of 6.91 and a debt-to-equity ratio of 0.55. Geron Corporation has a twelve month low of $1.04 and a twelve month high of $2.01. The stock has a fifty day simple moving average of $1.43 and a 200 day simple moving average of $1.48.

Geron (NASDAQ:GERN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Geron had a negative return on equity of 24.48% and a negative net margin of 34.17%.The company had revenue of $57.48 million for the quarter, compared to analyst estimates of $55.30 million. Sell-side analysts expect that Geron Corporation will post -0.04 EPS for the current year.

Geron Company Profile

Geron Corporation NASDAQ: GERN is a clinical-stage biotechnology company dedicated to developing and commercializing novel treatments that target telomerase, an enzyme critical to cancer cell immortality. The company's research is focused on hematologic malignancies and solid tumors, with a pipeline designed to address diseases that have historically had limited therapeutic options.

The lead product candidate, imetelstat, is a first-in-class telomerase inhibitor currently in Phase II and Phase III clinical trials for myelofibrosis and myelodysplastic syndromes.

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