Geron Corporation (NASDAQ:GERN - Get Free Report) dropped 4.2% during trading on Wednesday . The company traded as low as $1.49 and last traded at $1.49. Approximately 610,948 shares were traded during trading, a decline of 95% from the average daily volume of 11,166,345 shares. The stock had previously closed at $1.55.
Analyst Ratings Changes
Several research firms recently issued reports on GERN. Scotiabank cut shares of Geron from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the company from $4.00 to $1.50 in a research note on Thursday, May 8th. Needham & Company LLC reiterated a "buy" rating and issued a $5.00 price objective on shares of Geron in a research report on Wednesday, March 12th. Finally, HC Wainwright restated 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 given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $5.06.
Get Our Latest Research Report on GERN
Geron Stock Down 2.6%
The stock has a market cap of $949.01 million, a PE ratio of -7.09 and a beta of 0.69. The company has a current ratio of 7.87, a quick ratio of 6.97 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $1.44 and a 200-day moving average price of $2.11.
Geron (NASDAQ:GERN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. Geron had a negative return on equity of 47.86% and a negative net margin of 119.54%. The firm had revenue of $39.60 million during the quarter, compared to analysts' expectations of $49.88 million. During the same period in the previous year, the business earned ($0.07) earnings per share. The firm's revenue for the quarter was up 12927.3% on a year-over-year basis. As a group, analysts forecast that Geron Corporation will post -0.25 earnings per share for the current year.
Hedge Funds Weigh In On Geron
Several hedge funds and other institutional investors have recently modified their holdings of the business. Inspire Investing LLC lifted its stake in Geron by 89.1% in the 1st quarter. Inspire Investing LLC now owns 220,935 shares of the biopharmaceutical company's stock worth $351,000 after purchasing an additional 104,075 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Geron by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,372,016 shares of the biopharmaceutical company's stock worth $2,182,000 after buying an additional 104,840 shares in the last quarter. Exome Asset Management LLC lifted its position in Geron by 106.0% during the first quarter. Exome Asset Management LLC now owns 3,215,457 shares of the biopharmaceutical company's stock worth $5,113,000 after buying an additional 1,654,305 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Geron by 2.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 392,534 shares of the biopharmaceutical company's stock worth $627,000 after buying an additional 8,123 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in Geron by 15.1% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,130,000 shares of the biopharmaceutical company's stock valued at $3,387,000 after buying an additional 280,000 shares in the last quarter. 73.71% of the stock is owned by hedge funds and other institutional investors.
About Geron
(
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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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