Rhumbline Advisers Has $468,000 Position in Geron Corporation (GERN)
Rhumbline Advisers lowered its holdings in Geron Corporation (NASDAQ:GERN) by 4.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,889 shares of the biopharmaceutical company’s stock after selling 8,686 shares during the period. Rhumbline Advisers owned about 0.11% of Geron Corporation worth $468,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in GERN. Russell Investments Group Ltd. bought a new position in Geron Corporation in the second quarter valued at $114,000. Tudor Investment Corp ET AL grew its position in Geron Corporation by 12.1% in the first quarter. Tudor Investment Corp ET AL now owns 52,369 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 5,669 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Geron Corporation by 31.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 57,056 shares of the biopharmaceutical company’s stock valued at $130,000 after purchasing an additional 13,500 shares in the last quarter. Bank of America Corp DE grew its position in Geron Corporation by 26.5% in the first quarter. Bank of America Corp DE now owns 65,403 shares of the biopharmaceutical company’s stock valued at $148,000 after purchasing an additional 13,698 shares in the last quarter. Finally, American International Group Inc. grew its position in Geron Corporation by 7.1% in the first quarter. American International Group Inc. now owns 92,964 shares of the biopharmaceutical company’s stock valued at $211,000 after purchasing an additional 6,140 shares in the last quarter. 38.79% of the stock is owned by institutional investors and hedge funds.
Geron Corporation (NASDAQ GERN) opened at 2.23 on Thursday. The company’s market cap is $355.04 million. The stock has a 50 day moving average of $2.13 and a 200-day moving average of $2.48. Geron Corporation has a 12 month low of $1.81 and a 12 month high of $3.15.
Geron Corporation (NASDAQ:GERN) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.38 million. Geron Corporation had a negative net margin of 433.72% and a negative return on equity of 21.30%. The firm’s revenue for the quarter was down 19.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Equities research analysts expect that Geron Corporation will post ($0.18) EPS for the current year.
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A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Geron Corporation from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a research report on Tuesday. BidaskClub downgraded shares of Geron Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, FBR & Co reissued a “buy” rating on shares of Geron Corporation in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Geron Corporation presently has a consensus rating of “Hold” and a consensus price target of $3.75.
Geron Corporation 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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