Geron (NASDAQ:GERN) Trading Up 8.6% - Here's What Happened

Key Points

• Shares rose 8.6% in mid-day trading to $1.585 (intraday high $1.61) on volume of 10.82 million shares, about 32% below the average session volume; the stock had closed at $1.46 previously.
• Equity analysts are mixed with a consensus rating of "Hold" (2 Buy, 3 Hold, 2 Sell) and an average price target of $2.17.
• Geron reported a quarterly EPS loss of ($0.05) versus an expected ($0.03) and revenue of $48.02M versus $50.43M expected, leaving the company with a negative net margin (46.65%) and a market cap of about $1.01 billion.

Shares of Geron Corporation (NASDAQ:GERN - Get Free Report) shot up 8.6% during mid-day trading on Monday . The stock traded as high as $1.61 and last traded at $1.5850. 10,818,504 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 15,892,693 shares. The stock had previously closed at $1.46.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GERN shares. Weiss Ratings reissued a "sell (e+)" rating on shares of Geron in a research note on Wednesday, January 28th. UBS Group reiterated a "neutral" rating on shares of Geron in a research report on Tuesday, December 9th. HC Wainwright reissued a "neutral" rating on shares of Geron in a report on Tuesday, December 9th. Finally, TD Cowen restated a "buy" rating on shares of Geron in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $2.17.

Geron Stock Up 7.9%

The company has a quick ratio of 3.62, a current ratio of 4.66 and a debt-to-equity ratio of 0.53. The company has a 50 day simple moving average of $1.54 and a two-hundred day simple moving average of $1.37. The company has a market capitalization of $1.01 billion, a P/E ratio of -12.12 and a beta of 0.58.

Geron (NASDAQ:GERN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $48.02 million during the quarter, compared to the consensus estimate of $50.43 million. Geron had a negative net margin of 46.65% and a negative return on equity of 28.86%. As a group, equities analysts predict that Geron Corporation will post -0.25 EPS for the current year.

Institutional Trading of Geron

A number of institutional investors have recently bought and sold shares of GERN. Caitong International Asset Management Co. Ltd increased its position in Geron by 5,092.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 38,319 shares of the biopharmaceutical company's stock valued at $51,000 after acquiring an additional 37,581 shares during the last quarter. Seven Fleet Capital Management LP bought a new stake in shares of Geron in the 4th quarter worth about $1,027,000. Virtu Financial LLC purchased a new position in shares of Geron during the 4th quarter worth about $171,000. Invesco Ltd. boosted its stake in shares of Geron by 27.6% during the 4th quarter. Invesco Ltd. now owns 1,225,658 shares of the biopharmaceutical company's stock worth $1,618,000 after purchasing an additional 265,197 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Geron by 104.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 91,619 shares of the biopharmaceutical company's stock valued at $121,000 after purchasing an additional 46,801 shares during the last quarter. 73.71% of the stock is currently owned by institutional investors.

About Geron

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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