Walleye Capital LLC Purchases New Shares in Geron Co. (NASDAQ:GERN)

Walleye Capital LLC purchased a new position in Geron Co. (NASDAQ:GERN - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,656,629 shares of the biopharmaceutical company's stock, valued at approximately $7,521,000. Walleye Capital LLC owned 0.27% of Geron as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GERN. National Bank of Canada FI boosted its holdings in shares of Geron by 1,200.0% in the 2nd quarter. National Bank of Canada FI now owns 6,500 shares of the biopharmaceutical company's stock valued at $28,000 after buying an additional 6,000 shares in the last quarter. American Trust purchased a new stake in Geron during the first quarter valued at approximately $38,000. Rovin Capital UT ADV acquired a new stake in Geron in the third quarter valued at approximately $62,000. Empowered Funds LLC purchased a new position in Geron in the third quarter worth $67,000. Finally, Inspire Advisors LLC acquired a new position in shares of Geron during the third quarter worth $68,000. 73.71% of the stock is currently owned by institutional investors.

Geron Stock Performance

Shares of NASDAQ:GERN traded down $0.05 during midday trading on Friday, reaching $4.12. The company's stock had a trading volume of 3,512,728 shares, compared to its average volume of 10,059,998. 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 stock has a fifty day moving average of $4.16 and a 200 day moving average of $4.32. Geron Co. has a twelve month low of $1.64 and a twelve month high of $5.34. The firm has a market capitalization of $2.49 billion, a PE ratio of -12.88 and a beta of 0.52.

Geron (NASDAQ:GERN - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.05. The company had revenue of $28.27 million for the quarter, compared to the consensus estimate of $18.97 million. Geron had a negative return on equity of 67.53% and a negative net margin of 682.48%. The firm's revenue for the quarter was up 17138.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) EPS. On average, equities analysts expect that Geron Co. will post -0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Leerink Partnrs upgraded Geron to a "strong-buy" rating in a research note on Monday, September 9th. Wedbush restated an "outperform" rating and set a $8.00 price target on shares of Geron in a research note on Thursday, August 8th. Leerink Partners began coverage on shares of Geron in a research report on Monday, September 9th. They issued an "outperform" rating and a $7.00 price objective for the company. HC Wainwright began coverage on shares of Geron in a research note on Tuesday, November 5th. They issued a "buy" rating and a $8.00 target price for the company. Finally, Scotiabank started coverage on shares of Geron in a research note on Wednesday, October 16th. They set a "sector outperform" rating and a $6.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $7.05.

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.