Geron Co. (NASDAQ:GERN) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers lifted its position in Geron Co. (NASDAQ:GERN - Free Report) by 16.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 846,768 shares of the biopharmaceutical company's stock after buying an additional 119,550 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of Geron worth $3,590,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GERN. Farallon Capital Management LLC acquired a new position in shares of Geron in the first quarter worth $24,734,000. Affinity Asset Advisors LLC acquired a new position in Geron during the 1st quarter worth $8,250,000. Price T Rowe Associates Inc. MD increased its holdings in Geron by 999.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,064,963 shares of the biopharmaceutical company's stock worth $6,815,000 after purchasing an additional 1,877,184 shares during the period. Altitude Crest Partners Inc. acquired a new stake in Geron in the 1st quarter valued at about $5,054,000. Finally, Vanguard Group Inc. raised its position in Geron by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 29,869,287 shares of the biopharmaceutical company's stock valued at $98,569,000 after purchasing an additional 1,304,713 shares in the last quarter. Institutional investors and hedge funds own 73.71% of the company's stock.

Insider Buying and Selling

In other Geron news, COO Andrew J. Grethlein sold 674,348 shares of the company's stock in a transaction on Monday, July 8th. The stock was sold at an average price of $4.56, for a total value of $3,075,026.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GERN has been the topic of a number of recent research reports. Leerink Partners began coverage on shares of Geron in a research note on Monday, September 9th. They set an "outperform" rating and a $7.00 target price on the stock. StockNews.com raised shares of Geron to a "sell" rating in a research report on Monday, August 5th. Stifel Nicolaus upped their target price on Geron from $6.00 to $7.00 and gave the company a "buy" rating in a research report on Monday, June 10th. Leerink Partnrs raised shares of Geron to a "strong-buy" rating in a research note on Monday, September 9th. Finally, Wedbush restated an "outperform" rating and issued a $8.00 target price on shares of Geron in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $7.06.

Geron Price Performance

Shares of NASDAQ:GERN traded down $0.03 on Wednesday, reaching $4.52. 5,323,814 shares of the company were exchanged, compared to its average volume of 10,812,552. The company has a current ratio of 3.61, a quick ratio of 3.60 and a debt-to-equity ratio of 0.12. Geron Co. has a 1-year low of $1.64 and a 1-year high of $5.34. The company has a 50-day moving average of $4.57 and a 200-day moving average of $3.99. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -13.00 and a beta of 0.50.

Geron (NASDAQ:GERN - Get Free Report) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.10). The company had revenue of $0.88 million during the quarter, compared to analysts' expectations of $0.34 million. Geron had a negative net margin of 15,990.68% and a negative return on equity of 73.79%. The firm's quarterly revenue was up 2941.4% compared to the same quarter last year. During the same period last year, the company posted ($0.09) earnings per share. Equities analysts forecast that Geron Co. will post -0.34 earnings per share for the current fiscal 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.