Geode Capital Management LLC boosted its position in Geron Co. (NASDAQ:GERN - Free Report) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,067,999 shares of the biopharmaceutical company's stock after acquiring an additional 231,178 shares during the period. Geode Capital Management LLC owned 2.16% of Geron worth $59,339,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Geron by 114.9% in the third quarter. Barclays PLC now owns 1,299,912 shares of the biopharmaceutical company's stock valued at $5,902,000 after buying an additional 694,931 shares in the last quarter. Main Management ETF Advisors LLC bought a new position in Geron in the 3rd quarter valued at about $895,000. Wellington Management Group LLP boosted its stake in Geron by 4.7% during the 3rd quarter. Wellington Management Group LLP now owns 12,662,404 shares of the biopharmaceutical company's stock valued at $57,487,000 after purchasing an additional 570,580 shares during the last quarter. State Street Corp boosted its stake in Geron by 28.4% during the 3rd quarter. State Street Corp now owns 28,961,671 shares of the biopharmaceutical company's stock valued at $131,486,000 after purchasing an additional 6,413,204 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in Geron by 30.7% during the 3rd quarter. Stifel Financial Corp now owns 47,477 shares of the biopharmaceutical company's stock worth $216,000 after purchasing an additional 11,149 shares in the last quarter. Institutional investors and hedge funds own 73.71% of the company's stock.
Geron Price Performance
Shares of Geron stock traded down $0.17 during trading on Friday, hitting $3.49. The stock had a trading volume of 26,317,918 shares, compared to its average volume of 10,214,938. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -10.91 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 business's 50-day moving average is $4.02 and its 200 day moving average is $4.35. The company has a current ratio of 2.89, a quick ratio of 2.74 and a debt-to-equity ratio of 0.04.
Geron (NASDAQ:GERN - Get Free Report) last released 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 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 analysts' expectations of $18.97 million. During the same quarter last year, the firm posted ($0.08) EPS. The company's revenue was up 17138.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Geron Co. will post -0.25 earnings per share for the current year.
Wall Street Analysts Forecast Growth
GERN has been the topic of several analyst reports. Leerink Partners initiated coverage on Geron in a research report on Monday, September 9th. They set an "outperform" rating and a $7.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $9.00 target price on shares of Geron in a research note on Tuesday, December 10th. Leerink Partnrs raised shares of Geron to a "strong-buy" rating in a research report on Monday, September 9th. Scotiabank started coverage on shares of Geron in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $6.00 price target on the stock. Finally, Barclays upgraded shares of Geron to a "strong-buy" rating in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $7.15.
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About Geron
(
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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