Geron (GERN) Trading Down 8.4%
Shares of Geron Co. (NASDAQ:GERN) fell 8.4% during mid-day trading on Tuesday . The stock traded as low as $5.61 and last traded at $5.77. 12,522,510 shares were traded during mid-day trading, an increase of 121% from the average session volume of 5,668,731 shares. The stock had previously closed at $6.30.
Several research firms have issued reports on GERN. ValuEngine raised Geron from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 24th. BidaskClub raised Geron from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. FBR & Co began coverage on Geron in a research note on Thursday, July 5th. They issued a “buy” rating on the stock. Finally, B. Riley began coverage on Geron in a research note on Thursday, July 5th. They issued a “buy” rating and a $5.75 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $5.31.
The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -32.83 and a beta of 3.11.
In other news, EVP Stephen Rosenfield sold 1,362,250 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $4.51, for a total value of $6,143,747.50. Following the completion of the transaction, the executive vice president now owns 36,000 shares in the company, valued at approximately $162,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new position in shares of Geron in the 1st quarter valued at about $106,000. Element Capital Management LLC bought a new position in shares of Geron in the 1st quarter valued at about $227,000. SG Americas Securities LLC grew its holdings in Geron by 352.2% during the second quarter. SG Americas Securities LLC now owns 57,936 shares of the biopharmaceutical company’s stock worth $199,000 after purchasing an additional 45,124 shares during the period. Bayesian Capital Management LP bought a new position in Geron during the first quarter worth about $250,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in Geron by 57.5% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 70,970 shares of the biopharmaceutical company’s stock worth $302,000 after purchasing an additional 25,900 shares during the period. Institutional investors own 37.17% of the company’s stock.
Geron Company Profile (NASDAQ:GERN)
Geron Corporation operates as a biopharmaceutical company. The company supports the clinical stage development of imetelstat, a telomerase inhibitor for the treatment of hematologic myeloid malignancies. It has collaboration and license agreement with Janssen Biotech, Inc to develop and commercialize imetelstat worldwide for indications in oncology, including hematologic myeloid malignancies and other human therapeutic uses.
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