Geron (NASDAQ:GERN) Shares Up 10.3%

Geron Co. (NASDAQ:GERNGet Rating)’s stock price shot up 10.3% during mid-day trading on Thursday . The company traded as high as $2.27 and last traded at $2.25. 77,408 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 2,195,994 shares. The stock had previously closed at $2.04.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GERN. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Geron in a research report on Monday, July 11th. B. Riley reiterated a “buy” rating and issued a $4.00 price target on shares of Geron in a research report on Thursday, July 28th.

Geron Price Performance

The company has a 50 day moving average of $1.64 and a 200-day moving average of $1.39. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.77 and a current ratio of 3.77.

Geron (NASDAQ:GERNGet Rating) last issued its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. Geron had a negative return on equity of 85.84% and a negative net margin of 8,584.92%. The firm had revenue of $0.12 million during the quarter, compared to analyst estimates of $0.10 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. Equities research analysts anticipate that Geron Co. will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Geron by 12.4% during the 1st quarter. Vanguard Group Inc. now owns 17,336,930 shares of the biopharmaceutical company’s stock valued at $23,579,000 after purchasing an additional 1,910,182 shares during the period. State Street Corp increased its holdings in Geron by 13.4% during the 1st quarter. State Street Corp now owns 13,518,850 shares of the biopharmaceutical company’s stock valued at $18,386,000 after purchasing an additional 1,593,868 shares during the period. Bank of New York Mellon Corp increased its holdings in Geron by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,161,223 shares of the biopharmaceutical company’s stock valued at $1,580,000 after purchasing an additional 11,874 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Geron by 9.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 851,478 shares of the biopharmaceutical company’s stock valued at $1,159,000 after purchasing an additional 74,477 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Geron by 160.4% during the 1st quarter. Renaissance Technologies LLC now owns 642,300 shares of the biopharmaceutical company’s stock valued at $874,000 after purchasing an additional 395,600 shares during the period. Hedge funds and other institutional investors own 47.75% of the company’s stock.

About Geron

(Get Rating)

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 hematologic myeloid malignancies for the treatment of low or intermediate-1 risk myelodysplastic syndromes and intermediate-2 or high-risk myelofibrosis.

Recommended Stories

Receive News & Ratings for Geron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Geron and related companies with MarketBeat.com's FREE daily email newsletter.