Exome Asset Management LLC Invests $4.11 Million in Geron Co. (NASDAQ:GERN)

Exome Asset Management LLC acquired a new stake in shares of Geron Co. (NASDAQ:GERN - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 905,126 shares of the biopharmaceutical company's stock, valued at approximately $4,109,000. Geron comprises 2.7% of Exome Asset Management LLC's holdings, making the stock its 9th biggest holding. Exome Asset Management LLC owned about 0.15% of Geron at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. National Bank of Canada FI raised its position in shares of Geron by 1,200.0% in the 2nd quarter. National Bank of Canada FI now owns 6,500 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 6,000 shares during the last quarter. Readystate Asset Management LP purchased a new position in Geron in the third quarter worth about $58,000. Rovin Capital UT ADV bought a new position in shares of Geron in the third quarter worth approximately $62,000. CIBC Asset Management Inc grew its holdings in shares of Geron by 32.7% during the second quarter. CIBC Asset Management Inc now owns 15,438 shares of the biopharmaceutical company's stock valued at $65,000 after buying an additional 3,805 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Geron during the third quarter valued at approximately $67,000. 73.71% of the stock is owned by institutional investors.

Geron Stock Performance

Shares of GERN traded down $0.06 on Friday, reaching $3.86. The company's stock had a trading volume of 11,294,120 shares, compared to its average volume of 10,172,121. The stock's 50 day simple moving average is $4.07 and its two-hundred day simple moving average is $4.35. The stock has a market capitalization of $2.33 billion, a P/E ratio of -12.06 and a beta of 0.51. Geron Co. has a 12-month low of $1.64 and a 12-month high of $5.34. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 2.74.

Geron (NASDAQ:GERN - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $28.27 million for the quarter, compared to the consensus estimate of $18.97 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The company's revenue for the quarter was up 17138.4% on a year-over-year basis. Research analysts forecast that Geron Co. will post -0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GERN shares. Scotiabank began coverage on Geron in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $6.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $6.00 price target on shares of Geron in a report on Friday. Leerink Partnrs raised Geron to a "strong-buy" rating in a research report on Monday, September 9th. HC Wainwright reissued a "buy" rating and issued a $9.00 target price on shares of Geron in a research report on Tuesday. Finally, Leerink Partners began coverage on shares of Geron in a report on Monday, September 9th. They set an "outperform" rating and a $7.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.15.

Geron Company 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.