Patient Square Capital LP Makes New $4.68 Million Investment in Geron Co. (NASDAQ:GERN)

Patient Square Capital LP purchased a new position in shares of Geron Co. (NASDAQ:GERN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,321,268 shares of the biopharmaceutical company's stock, valued at approximately $4,677,000. Geron makes up 1.7% of Patient Square Capital LP's holdings, making the stock its 9th largest holding. Patient Square Capital LP owned 0.22% of Geron at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in Geron during the fourth quarter worth $28,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Geron during the fourth quarter worth $36,000. Fifth Lane Capital LP acquired a new stake in shares of Geron during the fourth quarter worth $53,000. Rovin Capital UT ADV boosted its holdings in shares of Geron by 26.9% during the fourth quarter. Rovin Capital UT ADV now owns 17,270 shares of the biopharmaceutical company's stock worth $61,000 after purchasing an additional 3,660 shares during the last quarter. Finally, Harvest Investment Services LLC acquired a new stake in shares of Geron during the fourth quarter worth $61,000. Hedge funds and other institutional investors own 73.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GERN shares. Barclays restated an "overweight" rating and set a $4.00 price objective (down previously from $9.00) on shares of Geron in a report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $5.00 price objective on shares of Geron in a report on Wednesday, March 12th. Scotiabank cut Geron from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $4.00 to $1.50 in a report on Thursday, May 8th. HC Wainwright restated a "neutral" rating on shares of Geron in a report on Wednesday, March 12th. Finally, B. Riley cut Geron from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $3.50 to $2.00 in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $5.06.

Geron Trading Up 5.0%

Geron stock traded up $0.06 during midday trading on Friday, reaching $1.27. The stock had a trading volume of 13,831,903 shares, compared to its average volume of 11,617,032. Geron Co. has a twelve month low of $1.17 and a twelve month high of $5.34. The stock has a market capitalization of $808.89 million, a PE ratio of -3.97 and a beta of 0.76. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.74 and a current ratio of 2.89. The stock's 50-day simple moving average is $1.44 and its 200 day simple moving average is $2.63.

Geron (NASDAQ:GERN - Get Free Report) last issued its earnings results on Wednesday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. Geron had a negative return on equity of 67.53% and a negative net margin of 682.48%. The firm had revenue of $39.60 million for the quarter, compared to analysts' expectations of $49.88 million. During the same quarter last year, the firm earned ($0.07) earnings per share. The firm's revenue for the quarter was up 12927.3% compared to the same quarter last year. Analysts expect that Geron Co. will post -0.25 EPS 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.