Short Interest in Geron Corp. (GERN) Decreases By 4.7%
Geron Corp. (NASDAQ:GERN) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 26,789,171 shares, a decline of 4.7% from the August 15th total of 28,117,312 shares. Currently, 16.9% of the shares of the company are sold short. Based on an average daily trading volume, of 1,097,827 shares, the short-interest ratio is presently 24.4 days.
GERN has been the subject of several research reports. Zacks Investment Research upgraded shares of Geron Corp. from a “hold” rating to a “strong-buy” rating and set a $3.00 price objective for the company in a research note on Friday, August 5th. BTIG Research initiated coverage on shares of Geron Corp. in a research report on Friday, August 19th. They set a “neutral” rating for the company. FBR & Co decreased their target price on shares of Geron Corp. from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, September 13th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $5.00 target price (down from $10.00) on shares of Geron Corp. in a research report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $5.00.
Geron Corp. (NASDAQ:GERN) opened at 2.25 on Thursday. The firm has a 50 day moving average of $2.61 and a 200-day moving average of $2.79. Geron Corp. has a 12 month low of $1.84 and a 12 month high of $5.30. The firm has a market cap of $358.06 million, a P/E ratio of 281.25 and a beta of 2.63.
Geron Corp. (NASDAQ:GERN) last announced its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.02. Geron Corp. had a net margin of 3.39% and a return on equity of 0.89%. The company had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.38 million. During the same period in the prior year, the firm posted ($0.06) EPS. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Geron Corp. will post ($0.23) earnings per share for the current year.
Several large investors have recently made changes to their positions in the stock. IFP Advisors Inc increased its stake in shares of Geron Corp. by 1.9% in the first quarter. IFP Advisors Inc now owns 35,090 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 650 shares in the last quarter. Pacad Investment Ltd. increased its stake in shares of Geron Corp. by 126.6% in the first quarter. Pacad Investment Ltd. now owns 92,900 shares of the biopharmaceutical company’s stock worth $271,000 after buying an additional 51,900 shares in the last quarter. BlackRock Group LTD increased its stake in shares of Geron Corp. by 31.9% in the first quarter. BlackRock Group LTD now owns 68,916 shares of the biopharmaceutical company’s stock worth $202,000 after buying an additional 16,687 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Geron Corp. by 0.5% in the first quarter. BlackRock Fund Advisors now owns 6,128,897 shares of the biopharmaceutical company’s stock worth $17,896,000 after buying an additional 32,300 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Geron Corp. by 31.4% in the first quarter. State Street Corp now owns 6,198,538 shares of the biopharmaceutical company’s stock worth $18,096,000 after buying an additional 1,481,681 shares in the last quarter. 38.09% of the stock is currently owned by institutional investors.
About Geron Corp.
Geron Corporation (Geron) is a biopharmaceutical company, which supports the clinical stage development of a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies by Janssen Biotech, Inc (Janssen). The Company operates through the segment, which includes discovery and development of therapeutic products for oncology.
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