Geron Corp. (GERN) Stake Decreased by Bank of New York Mellon Corp
Bank of New York Mellon Corp cut its stake in Geron Corp. (NASDAQ:GERN) by 1.5% during the second quarter, Holdings Channel reports. The fund owned 842,908 shares of the biopharmaceutical company’s stock after selling 13,010 shares during the period. Bank of New York Mellon Corp owned about 0.53% of Geron Corp. worth $2,259,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. BlackRock Fund Advisors boosted its stake in Geron Corp. by 0.5% in the first quarter. BlackRock Fund Advisors now owns 6,128,897 shares of the biopharmaceutical company’s stock valued at $17,896,000 after buying an additional 32,300 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Geron Corp. by 32.9% in the first quarter. Panagora Asset Management Inc. now owns 1,823,587 shares of the biopharmaceutical company’s stock valued at $5,325,000 after buying an additional 451,440 shares during the last quarter. Geode Capital Management LLC boosted its stake in Geron Corp. by 1.2% in the first quarter. Geode Capital Management LLC now owns 1,038,452 shares of the biopharmaceutical company’s stock valued at $3,032,000 after buying an additional 12,432 shares during the last quarter. A.R.T. Advisors LLC boosted its stake in Geron Corp. by 59.0% in the first quarter. A.R.T. Advisors LLC now owns 661,334 shares of the biopharmaceutical company’s stock valued at $1,931,000 after buying an additional 245,500 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Geron Corp. during the first quarter valued at about $1,324,000. 38.09% of the stock is currently owned by institutional investors.
Shares of Geron Corp. (NASDAQ:GERN) traded up 0.220% during trading on Wednesday, reaching $2.275. 830,465 shares of the company were exchanged. Geron Corp. has a 1-year low of $1.84 and a 1-year high of $5.30. The company’s 50-day moving average is $2.48 and its 200 day moving average is $2.75. The firm has a market capitalization of $362.04 million, a PE ratio of 284.375 and a beta of 2.63.
Geron Corp. (NASDAQ:GERN) last posted its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, topping 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 analyst estimates of $0.38 million. During the same period in the prior year, the company posted ($0.06) EPS. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. Equities research analysts expect that Geron Corp. will post ($0.23) EPS for the current fiscal year.
GERN has been the topic of several recent analyst reports. BTIG Research reissued a “neutral” rating on shares of Geron Corp. in a research note on Tuesday, September 20th. Zacks Investment Research raised Geron Corp. from a “hold” rating to a “strong-buy” rating and set a $3.00 target price on the stock in a research note on Friday, August 5th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $5.00 price objective (down from $10.00) on shares of Geron Corp. in a research report on Tuesday, September 13th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Geron Corp. in a research report on Thursday, September 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Geron Corp. presently has a consensus rating of “Buy” and an average target price of $5.00.
Geron Corp. Company Profile
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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