Monterey Private Wealth Inc. Buys Shares of 17,700 Geron Co. (NASDAQ:GERN)

Monterey Private Wealth Inc. bought a new stake in Geron Co. (NASDAQ:GERN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 17,700 shares of the biopharmaceutical company’s stock, valued at approximately $63,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. raised its position in shares of Geron by 18.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 403,703 shares of the biopharmaceutical company’s stock valued at $1,429,000 after purchasing an additional 61,819 shares during the last quarter. Rovin Capital UT ADV increased its stake in Geron by 26.9% during the 4th quarter. Rovin Capital UT ADV now owns 17,270 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 3,660 shares in the last quarter. Elmwood Wealth Management Inc. purchased a new position in shares of Geron in the fourth quarter worth $93,000. Moody National Bank Trust Division lifted its stake in shares of Geron by 76.6% during the fourth quarter. Moody National Bank Trust Division now owns 267,629 shares of the biopharmaceutical company’s stock worth $947,000 after buying an additional 116,074 shares during the period. Finally, Exome Asset Management LLC purchased a new stake in shares of Geron during the third quarter valued at $4,109,000. Hedge funds and other institutional investors own 73.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GERN. Barclays upgraded Geron to a “strong-buy” rating in a research note on Friday, November 29th. Scotiabank assumed coverage on Geron in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $6.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Geron in a research note on Tuesday, December 10th. Finally, Needham & Company LLC increased their price target on Geron from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.25.

Geron Trading Down 1.0 %

Shares of NASDAQ GERN opened at $2.89 on Tuesday. 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 company has a 50-day moving average of $3.65 and a 200 day moving average of $4.16. Geron Co. has a 12-month low of $1.64 and a 12-month high of $5.34.

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

Geron 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.