Affinity Asset Advisors LLC Has $2.39 Million Holdings in Geron Corporation $GERN

Key Points

• Affinity Asset Advisors LLC reduced its holdings in Geron Corporation by 33.3%, selling 750,000 shares to end with 1.5 million shares.
• Multiple hedge funds have adjusted their positions in Geron, with Frisch Financial Group increasing its stake by 84.3% during the 1st quarter.
• Analysts have downgraded Geron's stock rating, with Scotiabank lowering its price target from $4.00 to $1.50, while Goldman Sachs issued a sell rating at $1.00.

Affinity Asset Advisors LLC decreased its stake in Geron Corporation (NASDAQ:GERN - Free Report) by 33.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,500,000 shares of the biopharmaceutical company's stock after selling 750,000 shares during the period. Affinity Asset Advisors LLC owned 0.24% of Geron worth $2,385,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GERN. Frisch Financial Group Inc. grew its holdings in shares of Geron by 84.3% in the 1st quarter. Frisch Financial Group Inc. now owns 19,025 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 8,700 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Geron in the 4th quarter valued at about $36,000. Sowell Financial Services LLC bought a new position in shares of Geron in the 1st quarter valued at about $43,000. GF Fund Management CO. LTD. bought a new position in shares of Geron in the 4th quarter valued at about $45,000. Finally, 111 Capital bought a new position in shares of Geron in the 4th quarter valued at about $52,000. Institutional investors own 73.71% of the company's stock.

Wall Street Analysts Forecast Growth

GERN has been the subject of several analyst reports. Scotiabank cut Geron from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $4.00 to $1.50 in a report on Thursday, May 8th. The Goldman Sachs Group initiated coverage on Geron in a report on Thursday, July 10th. They set a "sell" rating and a $1.00 price target for the company. 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $4.19.

Geron Price Performance

GERN traded down $0.03 during trading on Friday, hitting $1.40. 3,413,031 shares of the stock traded hands, compared to its average volume of 10,129,642. Geron Corporation has a twelve month low of $1.09 and a twelve month high of $4.83. The company has a market cap of $893.23 million, a price-to-earnings ratio of -10.77 and a beta of 0.73. 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 business has a 50 day moving average price of $1.35 and a 200 day moving average price of $1.51.

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