Geron (NASDAQ:GERN) Reaches New 1-Year Low – Time to Sell?

Geron Corporation (NASDAQ:GERN) shares reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $0.86 and last traded at $0.9020, with a volume of 19,432,005 shares trading hands. The stock had previously closed at $1.15.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Geron from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, October 21st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.00.

Geron Stock Down 20.5%

The business has a 50-day simple moving average of $1.33 and a two-hundred day simple moving average of $1.43. The stock has a market capitalization of $587.22 million, a P/E ratio of -8.38 and a beta of 0.61.

Geron (NASDAQ:GERN) last issued its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $57.48 million for the quarter, compared to the consensus estimate of $55.30 million. On average, sell-side analysts forecast that Geron Corporation will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Geron

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Geron during the second quarter worth approximately $62,868,000. Eversept Partners LP raised its stake in shares of Geron by 6.7% in the first quarter. Eversept Partners LP now owns 18,834,883 shares of the biopharmaceutical company’s stock valued at $28,064,000 after acquiring an additional 1,174,900 shares during the last quarter. Nantahala Capital Management LLC acquired a new position in shares of Geron in the 2nd quarter worth approximately $15,648,000. Pale Fire Capital SE boosted its holdings in shares of Geron by 2.1% in the 1st quarter. Pale Fire Capital SE now owns 4,888,304 shares of the biopharmaceutical company’s stock worth $7,284,000 after acquiring an additional 99,710 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Geron by 68.9% during the first quarter. Bank of America Corp DE now owns 4,556,278 shares of the biopharmaceutical company’s stock worth $6,789,000 after purchasing an additional 1,858,268 shares during the last quarter. 73.71% of the stock is currently owned by institutional investors and hedge funds.

Geron Company Profile

Geron Corporation (NASDAQ: GERN) is a biopharmaceutical company focused on developing and commercializing treatments for blood cancers and other serious hematologic diseases. Its lead product, Rytelo (imetelstat), is a telomerase inhibitor designed to target malignant blood-forming cells.

Rytelo is approved in the United States for adults with lower-risk myelodysplastic syndromes who have transfusion-dependent anemia requiring regular red blood cell transfusions and have not responded adequately to, or are not eligible for, erythropoiesis-stimulating agents.