Geron Co. (NASDAQ:GERN) Short Interest Down 8.4% in March

Geron Co. (NASDAQ:GERN - Get Free Report) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 46,660,000 shares, a drop of 8.4% from the March 15th total of 50,950,000 shares. Based on an average trading volume of 11,240,000 shares, the short-interest ratio is currently 4.2 days.

Hedge Funds Weigh In On Geron

Large investors have recently modified their holdings of the business. Pathstone Family Office LLC bought a new position in shares of Geron during the third quarter valued at $26,000. Cerity Partners LLC bought a new position in shares of Geron during the fourth quarter valued at $26,000. Creative Planning bought a new position in shares of Geron during the third quarter valued at $26,000. CIBC Asset Management Inc bought a new position in shares of Geron during the fourth quarter valued at $27,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Geron by 101.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,426 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 6,757 shares during the last quarter. Institutional investors own 73.71% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on GERN. The Goldman Sachs Group increased their price target on shares of Geron from $4.00 to $5.00 and gave the stock a "buy" rating in a research report on Friday, March 15th. Needham & Company LLC reiterated a "buy" rating and set a $5.00 price target on shares of Geron in a research report on Thursday. Finally, Wedbush reiterated an "outperform" rating and set a $6.00 price target on shares of Geron in a research report on Wednesday, April 10th.

Geron Price Performance

Geron stock traded down $0.19 during mid-day trading on Monday, reaching $3.45. The company had a trading volume of 11,912,744 shares, compared to its average volume of 11,395,988. Geron has a fifty-two week low of $1.64 and a fifty-two week high of $4.05. The company has a current ratio of 3.16, a quick ratio of 3.16 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.89 billion, a P/E ratio of -10.45 and a beta of 0.61. The business has a fifty day simple moving average of $2.60 and a 200 day simple moving average of $2.19.

Geron (NASDAQ:GERN - Get Free Report) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. Geron had a negative net margin of 77,691.14% and a negative return on equity of 63.33%. The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.06 million. During the same quarter last year, the business posted ($0.10) earnings per share. The company's quarterly revenue was down 77.7% on a year-over-year basis. On average, equities research analysts predict that Geron will post -0.34 earnings per share for the current year.

About Geron

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.