Parametric Portfolio Associates LLC Buys 17,877 Shares of Geron Co. (GERN)
Parametric Portfolio Associates LLC raised its holdings in Geron Co. (NASDAQ:GERN) by 59.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,976 shares of the biopharmaceutical company’s stock after buying an additional 17,877 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Geron were worth $133,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of GERN. Russell Investments Group Ltd. bought a new stake in shares of Geron in the 2nd quarter worth approximately $114,000. Bank of America Corp DE grew its position in shares of Geron by 26.5% in the 1st quarter. Bank of America Corp DE now owns 65,403 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 13,698 shares during the last quarter. State of Wisconsin Investment Board bought a new stake in shares of Geron in the 2nd quarter worth approximately $305,000. Wells Fargo & Company MN grew its position in shares of Geron by 13.7% in the 2nd quarter. Wells Fargo & Company MN now owns 122,838 shares of the biopharmaceutical company’s stock worth $341,000 after buying an additional 14,800 shares during the last quarter. Finally, Credit Suisse AG grew its position in shares of Geron by 51.7% in the 1st quarter. Credit Suisse AG now owns 235,969 shares of the biopharmaceutical company’s stock worth $535,000 after buying an additional 80,432 shares during the last quarter. Hedge funds and other institutional investors own 39.25% of the company’s stock.
A number of equities research analysts have recently weighed in on GERN shares. BidaskClub lowered Geron from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research upgraded Geron from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research report on Tuesday, October 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $2.50 price objective on shares of Geron in a research report on Friday, November 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Geron in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Geron presently has a consensus rating of “Hold” and a consensus target price of $3.75.
Geron Co. (GERN) opened at $1.93 on Friday. Geron Co. has a one year low of $1.74 and a one year high of $3.15.
Geron (NASDAQ:GERN) last released its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $0.16 million during the quarter, compared to analysts’ expectations of $0.40 million. Geron had a negative return on equity of 25.14% and a negative net margin of 2,992.67%. The firm’s revenue for the quarter was down 96.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) EPS. analysts expect that Geron Co. will post -0.17 EPS for the current fiscal year.
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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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