abrdn plc Has $6.54 Million Holdings in Geron Co. (NASDAQ:GERN)

abrdn plc boosted its holdings in shares of Geron Co. (NASDAQ:GERN - Free Report) by 24.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,847,285 shares of the biopharmaceutical company's stock after acquiring an additional 360,027 shares during the period. abrdn plc owned approximately 0.31% of Geron worth $6,539,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Readystate Asset Management LP bought a new position in Geron during the third quarter worth about $58,000. Rovin Capital UT ADV bought a new position in Geron during the third quarter worth about $62,000. Empowered Funds LLC bought a new position in Geron during the third quarter worth about $67,000. Inspire Advisors LLC bought a new position in Geron during the third quarter worth about $68,000. Finally, Monterey Private Wealth Inc. bought a new position in Geron during the fourth quarter worth about $63,000. 73.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on GERN. Scotiabank began coverage on Geron in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $6.00 target price on the stock. Needham & Company LLC lifted their price target on Geron from $6.00 to $7.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Barclays raised Geron to a "strong-buy" rating in a research note on Friday, November 29th. Finally, HC Wainwright reissued a "buy" rating and issued a $9.00 price target on shares of Geron in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.25.

Geron Price Performance

Shares of NASDAQ:GERN remained flat at $2.79 during midday trading on Wednesday. The company had a trading volume of 14,988,753 shares, compared to its average volume of 11,245,051. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.74 and a current ratio of 2.89. The company's fifty day moving average is $3.32 and its 200 day moving average is $3.97. The firm has a market capitalization of $1.69 billion, a PE ratio of -8.72 and a beta of 0.53. Geron Co. has a twelve month low of $1.64 and a twelve month high of $5.34.

About Geron

Geron Corporation, a late-stage clinical biopharmaceutical company, focuses on the development and commercialization of therapeutics for myeloid hematologic malignancies. It develops imetelstat, a telomerase inhibitor that is in Phase 3 clinical trials, which inhibits the uncontrolled proliferation of malignant stem and progenitor cells in myeloid hematologic malignancies for the treatment of low or intermediate-1 risk myelodysplastic syndromes and intermediate-2 or high-risk myelofibrosis.