Geron Co. (NASDAQ:GERN) Shares Bought by Millennium Management LLC

Millennium Management LLC increased its holdings in Geron Co. (NASDAQ:GERN - Free Report) by 70.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,034,632 shares of the biopharmaceutical company's stock after purchasing an additional 2,914,427 shares during the quarter. Millennium Management LLC owned 1.16% of Geron worth $24,903,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GERN. SBI Securities Co. Ltd. acquired a new stake in Geron during the 4th quarter worth about $28,000. Integrated Wealth Concepts LLC purchased a new position in shares of Geron in the fourth quarter worth approximately $36,000. Fifth Lane Capital LP acquired a new stake in shares of Geron during the fourth quarter valued at approximately $53,000. Harvest Investment Services LLC purchased a new stake in shares of Geron in the 4th quarter valued at approximately $61,000. Finally, Monterey Private Wealth Inc. purchased a new stake in shares of Geron in the 4th quarter valued at approximately $63,000. 73.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GERN shares. Stifel Nicolaus lowered their price objective 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. B. Riley downgraded shares of Geron from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $3.50 to $2.00 in a research note on Thursday, February 27th. Scotiabank lowered Geron from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the stock from $4.00 to $1.50 in a report on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and issued a $5.00 target price on shares of Geron in a research note on Wednesday, March 12th. Finally, HC Wainwright reaffirmed a "neutral" rating on shares of Geron in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Geron has an average rating of "Moderate Buy" and a consensus price target of $5.06.

Geron Trading Up 9.4%

Shares of NASDAQ:GERN opened at $1.39 on Tuesday. The company has a current ratio of 2.89, a quick ratio of 2.74 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $885.32 million, a PE ratio of -4.34 and a beta of 0.76. Geron Co. has a 1 year low of $1.17 and a 1 year high of $5.34. The firm has a fifty day moving average price of $1.44 and a 200 day moving average price of $2.59.

Geron (NASDAQ:GERN - Get Free Report) last released its quarterly 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 company had revenue of $39.60 million during 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 firm's revenue was up 12927.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) EPS. Analysts expect that Geron Co. will post -0.25 EPS for the current fiscal 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.

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