Geron Co. (NASDAQ:GERN) Stock Position Lessened by Fmr LLC

FMR LLC lowered its position in shares of Geron Co. (NASDAQ:GERN - Free Report) by 2.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 14,979,056 shares of the biopharmaceutical company's stock after selling 376,720 shares during the quarter. FMR LLC owned about 2.48% of Geron worth $68,005,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Darwin Global Management Ltd. purchased a new position in Geron in the 2nd quarter worth approximately $106,185,000. Farallon Capital Management LLC boosted its holdings in Geron by 124.6% in the 2nd quarter. Farallon Capital Management LLC now owns 16,837,000 shares of the biopharmaceutical company's stock worth $71,389,000 after acquiring an additional 9,342,000 shares during the period. First Turn Management LLC purchased a new position in Geron in the 3rd quarter worth approximately $14,187,000. abrdn plc purchased a new position in Geron in the 3rd quarter worth approximately $6,752,000. Finally, TD Asset Management Inc raised its position in shares of Geron by 403.0% in the 2nd quarter. TD Asset Management Inc now owns 1,201,200 shares of the biopharmaceutical company's stock valued at $5,093,000 after purchasing an additional 962,400 shares in the last quarter. Hedge funds and other institutional investors own 73.71% of the company's stock.

Wall Street Analysts Forecast Growth

GERN has been the topic of a number of recent analyst reports. Scotiabank initiated coverage on Geron in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $6.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $6.00 target price on shares of Geron in a research report on Friday, August 9th. HC Wainwright initiated coverage on Geron in a research report on Tuesday, November 5th. They issued a "buy" rating and a $8.00 target price on the stock. Barclays raised Geron to a "strong-buy" rating in a research report on Friday, November 29th. Finally, Leerink Partners initiated coverage on Geron in a research report on Monday, September 9th. They issued an "outperform" rating and a $7.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $7.05.

Geron Stock Down 1.3 %

NASDAQ GERN traded down $0.05 during trading hours on Friday, hitting $3.93. The company had a trading volume of 3,498,696 shares, compared to its average volume of 9,069,469. Geron Co. has a fifty-two week low of $1.64 and a fifty-two week 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. The business has a fifty day simple moving average of $4.11 and a 200-day simple moving average of $4.33.

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 the consensus estimate of ($0.09) by $0.05. Geron had a negative return on equity of 67.53% and a negative net margin of 682.48%. The firm had revenue of $28.27 million for the quarter, compared to analyst estimates of $18.97 million. During the same period last year, the company earned ($0.08) earnings per share. The firm's revenue for the quarter was up 17138.4% on a year-over-year basis. Research analysts predict that Geron Co. will post -0.25 earnings per share for the current year.

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.