Geron Co. (NASDAQ:GERN - Get Free Report)'s stock price dropped 4.6% during trading on Monday . The company traded as low as $2.76 and last traded at $2.80. Approximately 5,319,117 shares traded hands during trading, a decline of 50% from the average daily volume of 10,578,949 shares. The stock had previously closed at $2.93.
Wall Street Analyst Weigh In
GERN has been the topic of a number of analyst reports. Barclays upgraded Geron to a "strong-buy" rating in a research report on Friday, November 29th. Scotiabank assumed coverage on Geron in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $6.00 price objective on the stock. Needham & Company LLC raised their target price on shares of Geron from $6.00 to $7.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $9.00 price target on shares of Geron in a research note on Tuesday, December 10th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.25.
Get Our Latest Report on GERN
Geron Stock Performance
The company has a quick ratio of 2.74, a current ratio of 2.89 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average price of $3.27 and a 200 day moving average price of $3.95. The stock has a market cap of $1.69 billion, a PE ratio of -8.72 and a beta of 0.53.
Hedge Funds Weigh In On Geron
A number of institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new stake in Geron during the 4th quarter valued at $28,000. Readystate Asset Management LP purchased a new position in shares of Geron in the 3rd quarter worth $58,000. Rovin Capital UT ADV raised its stake in shares of Geron by 26.9% in the fourth quarter. Rovin Capital UT ADV now owns 17,270 shares of the biopharmaceutical company's stock valued at $61,000 after acquiring an additional 3,660 shares during the period. Monterey Private Wealth Inc. bought a new stake in Geron during the 4th quarter valued at $63,000. Finally, Empowered Funds LLC purchased a new position in Geron during the third quarter valued at approximately $67,000. Institutional investors own 73.71% of the company's stock.
About Geron
(
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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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