Geron (GERN) Shares Gap Up to $2.53
Geron Co. (NASDAQ:GERN)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $2.61, but opened at $2.53. Geron shares last traded at $2.43, with a volume of 4229419 shares trading hands.
Several research firms have recently issued reports on GERN. Zacks Investment Research downgraded shares of Geron from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Geron in a research note on Friday, November 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $2.50 price target on shares of Geron in a research note on Friday, November 3rd. Finally, BidaskClub raised shares of Geron from a “sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $3.75.
The firm has a market cap of $374.20, a PE ratio of -13.64 and a beta of 2.56.
Several institutional investors and hedge funds have recently bought and sold shares of GERN. State Street Corp increased its position in shares of Geron by 9.8% during the second quarter. State Street Corp now owns 5,127,578 shares of the biopharmaceutical company’s stock worth $14,205,000 after buying an additional 459,700 shares during the period. Russell Investments Group Ltd. increased its position in shares of Geron by 783.9% during the third quarter. Russell Investments Group Ltd. now owns 363,990 shares of the biopharmaceutical company’s stock worth $794,000 after buying an additional 322,810 shares during the period. Vanguard Group Inc. increased its position in shares of Geron by 4.1% during the second quarter. Vanguard Group Inc. now owns 7,406,968 shares of the biopharmaceutical company’s stock worth $20,518,000 after buying an additional 294,785 shares during the period. Creative Planning increased its position in shares of Geron by 69.8% during the fourth quarter. Creative Planning now owns 308,523 shares of the biopharmaceutical company’s stock worth $555,000 after buying an additional 126,810 shares during the period. Finally, Zacks Investment Management acquired a new stake in shares of Geron during the second quarter worth $148,000. Institutional investors own 39.30% of the company’s stock.
Geron Company Profile
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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