Geron (NASDAQ:GERN) Trading Down 6% – Here’s Why

Shares of Geron Corporation (NASDAQ:GERN) were down 6% on Friday . The stock traded as low as $1.82 and last traded at $1.8050. Approximately 1,252,326 shares changed hands during trading, a decline of 90% from the average daily volume of 13,063,093 shares. The stock had previously closed at $1.92.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GERN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Geron in a research note on Wednesday, January 28th. Needham & Company LLC reduced their target price on Geron from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. UBS Group reissued a “neutral” rating on shares of Geron in a research report on Tuesday, December 9th. HC Wainwright reaffirmed a “neutral” rating on shares of Geron in a research note on Tuesday, December 9th. Finally, TD Cowen reissued a “buy” rating on shares of Geron in a research report on Thursday, January 29th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Geron currently has an average rating of “Hold” and a consensus price target of $2.75.

Geron Stock Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.87 and a current ratio of 5.96. The stock has a fifty day simple moving average of $1.43 and a two-hundred day simple moving average of $1.34. The stock has a market cap of $1.16 billion, a PE ratio of -15.04 and a beta of 0.62.

Institutional Trading of Geron

Large investors have recently modified their holdings of the business. Invesco Ltd. raised its position in shares of Geron by 27.6% in the 4th quarter. Invesco Ltd. now owns 1,225,658 shares of the biopharmaceutical company’s stock valued at $1,618,000 after purchasing an additional 265,197 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Geron by 104.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 91,619 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 46,801 shares during the last quarter. XTX Topco Ltd grew its holdings in Geron by 56.1% during the 4th quarter. XTX Topco Ltd now owns 258,397 shares of the biopharmaceutical company’s stock worth $341,000 after acquiring an additional 92,881 shares in the last quarter. Virtus Investment Advisers LLC grew its holdings in Geron by 76.4% during the 4th quarter. Virtus Investment Advisers LLC now owns 502,509 shares of the biopharmaceutical company’s stock worth $663,000 after acquiring an additional 217,641 shares in the last quarter. Finally, Man Group plc increased its position in shares of Geron by 117.2% in the 4th quarter. Man Group plc now owns 123,848 shares of the biopharmaceutical company’s stock worth $163,000 after purchasing an additional 66,837 shares during the last quarter. 73.71% of the stock is currently owned by institutional investors and hedge funds.

About Geron

Geron Corporation (NASDAQ: GERN) is a clinical-stage biotechnology company dedicated to developing and commercializing novel treatments that target telomerase, an enzyme critical to cancer cell immortality. The company’s research is focused on hematologic malignancies and solid tumors, with a pipeline designed to address diseases that have historically had limited therapeutic options.

The lead product candidate, imetelstat, is a first-in-class telomerase inhibitor currently in Phase II and Phase III clinical trials for myelofibrosis and myelodysplastic syndromes.