Geron Corporation (GERN) Stock Price Down 0.5%
Geron Corporation (NASDAQ:GERN) traded down 0.5% on Monday . The company traded as low as $1.95 and last traded at $2.06. 756,300 shares changed hands during trading, a decline of 46% from the average session volume of 1,409,538 shares. The stock had previously closed at $2.07.
Several equities research analysts have weighed in on GERN shares. BidaskClub downgraded Geron Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Zacks Investment Research downgraded Geron Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Stifel Nicolaus reissued a “hold” rating and issued a $2.50 price target on shares of Geron Corporation in a report on Friday, November 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Geron Corporation in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $3.75.
Geron Corporation (NASDAQ:GERN) last announced its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Geron Corporation had a negative return on equity of 25.14% and a negative net margin of 2,992.67%. The firm had revenue of $0.16 million during the quarter, compared to analysts’ expectations of $0.40 million. During the same period last year, the business posted ($0.02) earnings per share. The company’s revenue for the quarter was down 96.8% compared to the same quarter last year. equities analysts forecast that Geron Corporation will post -0.17 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Geron Corporation by 4.1% in the second quarter. Vanguard Group Inc. now owns 7,406,968 shares of the biopharmaceutical company’s stock worth $20,518,000 after purchasing an additional 294,785 shares during the last quarter. State Street Corp raised its position in Geron Corporation by 9.8% during the second quarter. State Street Corp now owns 5,127,578 shares of the biopharmaceutical company’s stock valued at $14,205,000 after acquiring an additional 459,700 shares in the last quarter. Northern Trust Corp raised its position in Geron Corporation by 0.9% during the second quarter. Northern Trust Corp now owns 1,866,468 shares of the biopharmaceutical company’s stock valued at $5,170,000 after acquiring an additional 16,561 shares in the last quarter. Geode Capital Management LLC raised its position in Geron Corporation by 11.0% during the first quarter. Geode Capital Management LLC now owns 1,212,214 shares of the biopharmaceutical company’s stock valued at $2,751,000 after acquiring an additional 120,222 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in Geron Corporation by 4.8% during the second quarter. TIAA CREF Investment Management LLC now owns 412,967 shares of the biopharmaceutical company’s stock valued at $1,144,000 after acquiring an additional 18,774 shares in the last quarter. Hedge funds and other institutional investors own 39.00% of the company’s stock.
About Geron Corporation
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 is engaged in the development of therapeutic products for oncology. Using its nucleic acid chemistry, Geron designed Imetelstat to be an oligonucleotide that binds with high affinity to the ribonucleic acid (RNA) template of telomerase, thereby directly inhibiting telomerase activity.
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