Geron (NASDAQ:GERN) Stock Price Up 8.2% – Here’s What Happened

by · The Cerbat Gem

Geron Corporation (NASDAQ:GERN – Get Free Report)’s stock price was up 8.2% on Thursday . The company traded as high as $1.42 and last traded at $1.3850. Approximately 3,389,359 shares changed hands during trading, a decline of 69% from the average daily volume of 10,838,833 shares. The stock had previously closed at $1.28.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. HC Wainwright reiterated a “neutral” rating on shares of Geron in a report on Tuesday. Needham & Company LLC dropped their price objective on shares of Geron from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. UBS Group reiterated a “neutral” rating on shares of Geron in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Geron in a report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Geron has an average rating of “Hold” and a consensus target price of $2.75.

Read Our Latest Stock Report on Geron

Geron Price Performance

The stock has a fifty day simple moving average of $1.22 and a 200-day simple moving average of $1.33. The company has a market capitalization of $868.16 million, a PE ratio of -11.33 and a beta of 0.57. The company has a current ratio of 5.96, a quick ratio of 4.87 and a debt-to-equity ratio of 0.48.

Geron (NASDAQ:GERN – Get Free Report) last issued its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $47.23 million for the quarter, compared to analyst estimates of $55.24 million. Geron had a negative return on equity of 29.63% and a negative net margin of 43.61%. Equities analysts anticipate that Geron Corporation will post -0.25 earnings per share for the current year.

Hedge Funds Weigh In On Geron

A number of hedge funds have recently modified their holdings of the business. Frisch Financial Group Inc. boosted its stake in Geron by 84.3% during the 1st quarter. Frisch Financial Group Inc. now owns 19,025 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 8,700 shares during the period. StoneCrest Wealth Management Inc. acquired a new stake in shares of Geron during the second quarter worth about $35,000. Swiss Life Asset Management Ltd grew its holdings in shares of Geron by 73.6% during the third quarter. Swiss Life Asset Management Ltd now owns 26,371 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 11,182 shares during the last quarter. Savant Capital LLC raised its stake in Geron by 73.8% during the 2nd quarter. Savant Capital LLC now owns 26,074 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 11,074 shares during the last quarter. Finally, Fisher Asset Management LLC acquired a new stake in Geron during the 3rd quarter worth approximately $37,000. 73.71% of the stock is currently owned by hedge funds and other institutional investors.

Geron Company Profile

(Get 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.

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