Geron (NASDAQ:GERN) Stock Price Down 4.6% - Should You Sell?

Geron Co. (NASDAQ:GERN - Get Free Report)'s stock price fell 4.6% during mid-day trading on Monday . The stock traded as low as $2.76 and last traded at $2.80. 5,319,117 shares changed hands during trading, a decline of 50% from the average session volume of 10,578,949 shares. The stock had previously closed at $2.93.

Analysts Set New Price Targets

Several research firms have issued reports on GERN. Needham & Company LLC boosted their price target on Geron from $6.00 to $7.00 and gave the company a "buy" rating in a report on Monday, January 13th. HC Wainwright reaffirmed a "buy" rating and issued a $9.00 price objective on shares of Geron in a research note on Tuesday, December 10th. Finally, Barclays raised Geron to a "strong-buy" rating in a research note on Friday, November 29th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $7.25.

Geron Stock Performance

The business has a 50 day moving average of $3.24 and a 200 day moving average of $3.93. The company has a market capitalization of $1.55 billion, a P/E ratio of -8.00 and a beta of 0.53. The company has a quick ratio of 2.74, a current ratio of 2.89 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On Geron

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boxer Capital Management LLC purchased a new stake in Geron during the fourth quarter valued at approximately $21,240,000. Freestone Grove Partners LP purchased a new stake in Geron during the fourth quarter valued at approximately $159,000. Fifth Lane Capital LP purchased a new stake in Geron during the fourth quarter valued at approximately $53,000. Northern Trust Corp raised its position in Geron by 8.7% during the fourth quarter. Northern Trust Corp now owns 5,581,604 shares of the biopharmaceutical company's stock valued at $19,759,000 after purchasing an additional 447,201 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in Geron during the fourth quarter valued at approximately $1,057,000. 73.71% of the stock is owned by institutional investors.

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.