Geron Co. (NASDAQ:GERN) Shares Sold by Ally Bridge Group NY LLC

Ally Bridge Group NY LLC trimmed its holdings in shares of Geron Co. (NASDAQ:GERN - Free Report) by 51.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,331,053 shares of the biopharmaceutical company's stock after selling 1,405,610 shares during the quarter. Geron makes up about 3.2% of Ally Bridge Group NY LLC's investment portfolio, making the stock its 14th largest holding. Ally Bridge Group NY LLC owned approximately 0.22% of Geron worth $6,043,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Darwin Global Management Ltd. purchased a new position in shares of Geron in the 2nd quarter worth $106,185,000. Farallon Capital Management LLC boosted its position in Geron by 124.6% during the 2nd 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 in the last quarter. First Turn Management LLC bought a new position in shares of Geron during the 3rd quarter worth approximately $14,187,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Geron by 999.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,064,963 shares of the biopharmaceutical company's stock valued at $6,815,000 after purchasing an additional 1,877,184 shares during the last quarter. Finally, abrdn plc acquired a new stake in Geron in the 3rd quarter worth approximately $6,752,000. 73.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GERN. Scotiabank began coverage on Geron in a research note on Wednesday, October 16th. They set a "sector outperform" rating and a $6.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $6.00 price objective on shares of Geron in a research note on Friday, August 9th. Wedbush reissued an "outperform" rating and issued a $8.00 target price on shares of Geron in a research note on Thursday, August 8th. Leerink Partnrs raised Geron to a "strong-buy" rating in a report on Monday, September 9th. Finally, Leerink Partners initiated coverage on shares of Geron in a research report on Monday, September 9th. They set an "outperform" rating and a $7.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $7.05.

Geron Stock Up 2.7 %

Shares of Geron stock traded up $0.11 on Thursday, reaching $4.17. 6,472,425 shares of the company were exchanged, compared to its average volume of 10,377,381. Geron Co. has a 1-year low of $1.64 and a 1-year high of $5.34. The stock's 50 day moving average price is $4.19 and its 200-day moving average price is $4.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 2.74. The company has a market cap of $2.52 billion, a P/E ratio of -13.03 and a beta of 0.52.

Geron (NASDAQ:GERN - Get Free Report) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.05. The business had revenue of $28.27 million for the quarter, compared to analysts' expectations of $18.97 million. Geron had a negative return on equity of 67.53% and a negative net margin of 682.48%. The business's revenue was up 17138.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. As a group, equities analysts forecast that Geron Co. will post -0.25 EPS for the current year.

Geron Profile

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.