The Manufacturers Life Insurance Company trimmed its position in shares of Geron Co. (NASDAQ:GERN - Free Report) by 24.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 695,535 shares of the biopharmaceutical company's stock after selling 220,414 shares during the period. The Manufacturers Life Insurance Company owned 0.12% of Geron worth $3,158,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in GERN. Darwin Global Management Ltd. acquired a new stake in shares of Geron in the 2nd quarter worth approximately $106,185,000. Farallon Capital Management LLC increased its position in shares of Geron by 124.6% during the 2nd quarter. Farallon Capital Management LLC now owns 16,837,000 shares of the biopharmaceutical company's stock valued at $71,389,000 after purchasing an additional 9,342,000 shares during the period. First Turn Management LLC acquired a new position in shares of Geron during the 3rd quarter valued at $14,187,000. abrdn plc acquired a new stake in shares of Geron in the third quarter valued at $6,752,000. Finally, TD Asset Management Inc boosted its stake in Geron by 403.0% during the second quarter. TD Asset Management Inc now owns 1,201,200 shares of the biopharmaceutical company's stock valued at $5,093,000 after buying an additional 962,400 shares in the last quarter. Institutional investors and hedge funds own 73.71% of the company's stock.
Geron Stock Down 1.3 %
GERN stock traded down $0.05 during midday trading on Friday, reaching $3.93. The company had a trading volume of 3,498,696 shares, compared to its average volume of 9,069,469. The company has a market capitalization of $2.38 billion, a P/E ratio of -12.28 and a beta of 0.51. The company has a 50 day moving average of $4.11 and a two-hundred day moving average of $4.34. 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 Co. has a 1 year low of $1.64 and a 1 year high of $5.34.
Geron (NASDAQ:GERN - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $28.27 million for the quarter, compared to analyst estimates of $18.97 million. During the same period in the prior year, the company earned ($0.08) EPS. Geron's revenue for the quarter was up 17138.4% on a year-over-year basis. On average, equities research analysts expect that Geron Co. will post -0.25 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have commented on the stock. HC Wainwright assumed coverage on shares of Geron in a research report on Tuesday, November 5th. They issued a "buy" rating and a $8.00 price target on the stock. Barclays raised Geron to a "strong-buy" rating in a report on Friday, November 29th. Leerink Partners initiated coverage on Geron in a research note on Monday, September 9th. They set an "outperform" rating and a $7.00 price objective for the company. Leerink Partnrs raised Geron to a "strong-buy" rating in a research report on Monday, September 9th. Finally, Scotiabank assumed coverage on Geron in a research note on Wednesday, October 16th. They issued a "sector outperform" rating and a $6.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $7.05.
View Our Latest Research Report on Geron
Geron Profile
(
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.
Further Reading
Before you consider Geron, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Geron wasn't on the list.
While Geron currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
