Zacks Investment Management Takes $148,000 Position in Geron Corporation (GERN)
Zacks Investment Management purchased a new stake in shares of Geron Corporation (NASDAQ:GERN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 53,400 shares of the biopharmaceutical company’s stock, valued at approximately $148,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of GERN. Vanguard Group Inc. boosted its position in Geron Corporation by 7.6% during the first quarter. Vanguard Group Inc. now owns 7,112,183 shares of the biopharmaceutical company’s stock valued at $16,145,000 after buying an additional 502,485 shares during the period. Renaissance Technologies LLC purchased a new stake in Geron Corporation during the first quarter valued at about $820,000. Geode Capital Management LLC boosted its position in Geron Corporation by 11.0% during the first quarter. Geode Capital Management LLC now owns 1,212,214 shares of the biopharmaceutical company’s stock valued at $2,751,000 after buying an additional 120,222 shares during the period. State of Wisconsin Investment Board purchased a new stake in Geron Corporation during the second quarter valued at about $305,000. Finally, Cutler Group LP purchased a new stake in Geron Corporation during the second quarter valued at about $302,000. Institutional investors and hedge funds own 38.79% of the company’s stock.
Several analysts have issued reports on GERN shares. Zacks Investment Research upgraded shares of Geron Corporation from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research report on Tuesday. FBR & Co restated a “buy” rating on shares of Geron Corporation in a research report on Tuesday, July 4th. Finally, BidaskClub lowered shares of Geron Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Geron Corporation currently has a consensus rating of “Hold” and an average target price of $3.75.
Shares of Geron Corporation (NASDAQ:GERN) opened at 2.30 on Friday. The firm’s 50-day moving average is $2.15 and its 200 day moving average is $2.48. Geron Corporation has a 52-week low of $1.81 and a 52-week high of $3.15. The stock’s market capitalization is $366.19 million.
Geron Corporation (NASDAQ:GERN) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Geron Corporation had a negative net margin of 433.72% and a negative return on equity of 21.30%. The firm had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.38 million. During the same period in the previous year, the firm posted ($0.05) EPS. The business’s quarterly revenue was down 19.0% on a year-over-year basis. Equities analysts expect that Geron Corporation will post ($0.18) EPS for the current year.
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Geron Corporation 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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