Geron Corporation (GERN) Trading Down 0.5%
Geron Corporation (NASDAQ:GERN) shares traded down 0.5% on Monday . The stock traded as low as $1.95 and last traded at $2.06. 756,300 shares were traded during mid-day trading, a decline of 46% from the average session volume of 1,409,538 shares. The stock had previously closed at $2.07.
Several research analysts have weighed in on the stock. BidaskClub lowered shares of Geron Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research lowered shares of Geron Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Stifel Nicolaus reiterated a “hold” rating and issued a $2.50 price objective on shares of Geron Corporation in a research note on Friday, November 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Geron Corporation in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Geron Corporation presently has a consensus rating of “Hold” and a consensus target price of $3.75.
Geron Corporation (NASDAQ:GERN) last announced its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Geron Corporation had a negative net margin of 2,992.67% and a negative return on equity of 25.14%. The company had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.40 million. During the same quarter in the prior year, the business posted ($0.02) EPS. Geron Corporation’s quarterly revenue was down 96.8% on a year-over-year basis. equities research analysts anticipate that Geron Corporation will post -0.17 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in GERN. Vanguard Group Inc. increased its stake in shares of Geron Corporation by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 7,112,183 shares of the biopharmaceutical company’s stock worth $16,145,000 after purchasing an additional 502,485 shares during the last quarter. State Street Corp increased its stake in shares of Geron Corporation by 9.8% during the 2nd quarter. State Street Corp now owns 5,127,578 shares of the biopharmaceutical company’s stock worth $14,205,000 after purchasing an additional 459,700 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Geron Corporation during the 1st quarter worth $820,000. Russell Investments Group Ltd. increased its stake in shares of Geron Corporation by 783.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 363,990 shares of the biopharmaceutical company’s stock worth $794,000 after purchasing an additional 322,810 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Geron Corporation by 11.0% during the 1st quarter. Geode Capital Management LLC now owns 1,212,214 shares of the biopharmaceutical company’s stock worth $2,751,000 after purchasing an additional 120,222 shares during the last quarter. Institutional investors own 39.00% of the company’s stock.
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About Geron Corporation
Geron Corporation (Geron) is a biopharmaceutical company, which supports the clinical stage development of a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies by Janssen Biotech, Inc (Janssen). The Company is engaged in the development of therapeutic products for oncology. Using its nucleic acid chemistry, Geron designed Imetelstat to be an oligonucleotide that binds with high affinity to the ribonucleic acid (RNA) template of telomerase, thereby directly inhibiting telomerase activity.
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