Algert Global LLC grew its stake in shares of Geron Co. (NASDAQ:GERN - Free Report) by 210.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 395,071 shares of the biopharmaceutical company's stock after acquiring an additional 268,000 shares during the quarter. Algert Global LLC owned about 0.07% of Geron worth $1,794,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Darwin Global Management Ltd. acquired a new position in shares of Geron in the 2nd quarter valued at $106,185,000. Farallon Capital Management LLC boosted its holdings in Geron by 124.6% in the second quarter. Farallon Capital Management LLC now owns 16,837,000 shares of the biopharmaceutical company's stock valued at $71,389,000 after acquiring an additional 9,342,000 shares during the last quarter. First Turn Management LLC purchased a new stake in Geron during the third quarter valued at about $14,187,000. Price T Rowe Associates Inc. MD increased its stake in Geron by 999.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,064,963 shares of the biopharmaceutical company's stock worth $6,815,000 after acquiring an additional 1,877,184 shares during the last quarter. Finally, abrdn plc purchased a new position in shares of Geron in the 3rd quarter worth about $6,752,000. 73.71% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
GERN has been the subject of a number of research analyst reports. Wedbush reissued an "outperform" rating and set a $8.00 target price on shares of Geron in a research report on Thursday, August 8th. Scotiabank initiated coverage on shares of Geron in a research note on Wednesday, October 16th. They issued a "sector outperform" rating and a $6.00 target price on the stock. StockNews.com raised shares of Geron to a "sell" rating in a research report on Monday, August 5th. Leerink Partners initiated coverage on Geron in a research report on Monday, September 9th. They issued an "outperform" rating and a $7.00 price objective on the stock. Finally, Leerink Partnrs raised Geron to a "strong-buy" rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Geron presently has a consensus rating of "Moderate Buy" and an average price target of $7.05.
Get Our Latest Stock Analysis on GERN
Geron Stock Performance
Shares of GERN traded up $0.11 during mid-day trading on Thursday, hitting $4.17. The stock had a trading volume of 6,472,425 shares, compared to its average volume of 10,377,381. The company has a quick ratio of 2.74, a current ratio of 2.89 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.52 billion, a PE ratio of -13.03 and a beta of 0.52. Geron Co. has a fifty-two week low of $1.64 and a fifty-two week high of $5.34. The company's fifty day simple moving average is $4.19 and its two-hundred day simple moving average is $4.32.
Geron (NASDAQ:GERN - Get Free Report) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.05. Geron had a negative net margin of 682.48% and a negative return on equity of 67.53%. The company had revenue of $28.27 million for the quarter, compared to analysts' expectations of $18.97 million. During the same period in the prior year, the company earned ($0.08) earnings per share. The firm's revenue was up 17138.4% compared to the same quarter last year. On average, equities analysts expect that Geron Co. will post -0.25 earnings per share for the current year.
Geron Company Profile
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Free Report)
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.
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