First Turn Management LLC Takes $14.19 Million Position in Geron Co. (NASDAQ:GERN)

First Turn Management LLC purchased a new position in shares of Geron Co. (NASDAQ:GERN - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,124,967 shares of the biopharmaceutical company's stock, valued at approximately $14,187,000. Geron makes up 2.2% of First Turn Management LLC's investment portfolio, making the stock its 25th biggest position. First Turn Management LLC owned approximately 0.52% of Geron as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GERN. National Bank of Canada FI raised its position in shares of Geron by 1,200.0% in the second quarter. National Bank of Canada FI now owns 6,500 shares of the biopharmaceutical company's stock valued at $28,000 after buying an additional 6,000 shares during the last quarter. Crewe Advisors LLC grew its stake in Geron by 870.0% during the 1st quarter. Crewe Advisors LLC now owns 9,700 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 8,700 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in Geron in the 1st quarter valued at about $34,000. American Trust purchased a new position in Geron in the 1st quarter worth approximately $38,000. Finally, Rovin Capital UT ADV acquired a new position in shares of Geron during the 3rd quarter worth approximately $62,000. 73.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GERN shares. Leerink Partners began coverage on Geron in a report on Monday, September 9th. They issued an "outperform" rating and a $7.00 price target for the company. HC Wainwright initiated coverage on shares of Geron in a research report on Tuesday, November 5th. They set a "buy" rating and a $8.00 price target on the stock. Leerink Partnrs raised shares of Geron to a "strong-buy" rating in a report on Monday, September 9th. StockNews.com raised shares of Geron to a "sell" rating in a research note on Monday, August 5th. Finally, Wedbush reissued an "outperform" rating and issued a $8.00 price target on shares of Geron in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $7.05.

Geron Trading Up 0.3 %

Shares of GERN stock traded up $0.01 on Tuesday, hitting $3.79. The stock had a trading volume of 11,484,264 shares, compared to its average volume of 10,472,212. The company's 50 day moving average price is $4.23 and its 200-day moving average price is $4.31. Geron Co. has a 1 year low of $1.64 and a 1 year high of $5.34. The firm has a market capitalization of $2.29 billion, a P/E ratio of -11.84 and a beta of 0.52. 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 announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.05. The firm had revenue of $28.27 million during the quarter, compared to analysts' expectations of $18.97 million. Geron had a negative net margin of 682.48% and a negative return on equity of 67.53%. The business's quarterly revenue was up 17138.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Analysts anticipate that Geron Co. will post -0.25 earnings per share for the current year.

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.