Short Interest in Geron Corporation (GERN) Decreases By 4.4%
Geron Corporation (NASDAQ:GERN) saw a large decline in short interest in the month of August. As of August 15th, there was short interest totalling 31,401,742 shares, a decline of 4.4% from the July 31st total of 32,854,035 shares. Currently, 19.8% of the shares of the company are short sold. Based on an average daily trading volume, of 1,921,643 shares, the days-to-cover ratio is presently 16.3 days.
Geron Corporation (NASDAQ GERN) opened at 2.07 on Wednesday. Geron Corporation has a 1-year low of $1.81 and a 1-year high of $3.15. The stock’s 50 day moving average is $2.45 and its 200-day moving average is $2.48. The firm’s market capitalization is $329.57 million.
Geron Corporation (NASDAQ:GERN) last issued its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. Geron Corporation had a negative return on equity of 21.30% and a negative net margin of 433.72%. The business had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.38 million. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. The firm’s revenue for the quarter was down 19.0% compared to the same quarter last year. Equities research analysts forecast that Geron Corporation will post ($0.18) EPS for the current year.
Several equities analysts have issued reports on GERN shares. Zacks Investment Research raised shares of Geron Corporation from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Wednesday, May 31st. FBR & Co reissued a “buy” rating on shares of Geron Corporation in a research note on Tuesday, July 4th. Finally, BidaskClub cut shares of Geron Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Geron Corporation presently has an average rating of “Hold” and an average price target of $3.88.
Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new position in shares of Geron Corporation during the second quarter valued at about $114,000. Tudor Investment Corp ET AL raised its position in shares of 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 buying an additional 5,669 shares during the period. IHT Wealth Management LLC purchased a new position in shares of Geron Corporation during the second quarter valued at about $122,000. Raymond James Financial Services Advisors Inc. raised its position in shares of 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 buying an additional 13,500 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in shares of Geron Corporation by 59.4% in the second quarter. Parametric Portfolio Associates LLC now owns 47,976 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 17,877 shares during the period. 38.79% of the stock is currently owned by institutional investors and hedge funds.
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About Geron Corporation
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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