Eversept Partners LP Buys 1,174,900 Shares of Geron Corporation $GERN

Eversept Partners LP lifted its stake in Geron Corporation (NASDAQ:GERN) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,834,883 shares of the biopharmaceutical company’s stock after buying an additional 1,174,900 shares during the period. Geron makes up approximately 1.5% of Eversept Partners LP’s holdings, making the stock its 18th largest holding. Eversept Partners LP’s holdings in Geron were worth $28,064,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GERN. RA Capital Management L.P. boosted its holdings in Geron by 5.6% during the 4th quarter. RA Capital Management L.P. now owns 63,771,366 shares of the biopharmaceutical company’s stock valued at $84,178,000 after acquiring an additional 3,392,000 shares during the period. Vanguard Group Inc. increased its stake in Geron by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 35,660,969 shares of the biopharmaceutical company’s stock worth $47,072,000 after purchasing an additional 1,237,844 shares during the period. State Street Corp increased its stake in Geron by 0.9% in the 4th quarter. State Street Corp now owns 26,867,322 shares of the biopharmaceutical company’s stock worth $35,465,000 after purchasing an additional 248,508 shares during the period. Vestal Point Capital LP lifted its position in Geron by 8.0% in the second quarter. Vestal Point Capital LP now owns 23,775,000 shares of the biopharmaceutical company’s stock valued at $33,523,000 after purchasing an additional 1,769,660 shares during the last quarter. Finally, Soleus Capital Management L.P. lifted its position in Geron by 572.5% in the second quarter. Soleus Capital Management L.P. now owns 16,140,000 shares of the biopharmaceutical company’s stock valued at $22,757,000 after purchasing an additional 13,740,000 shares during the last quarter. Institutional investors own 73.71% of the company’s stock.

Geron Price Performance

GERN stock opened at $1.48 on Tuesday. The firm’s 50-day moving average price is $1.31 and its two-hundred day moving average price is $1.46. Geron Corporation has a 12-month low of $1.04 and a 12-month high of $2.01. The stock has a market capitalization of $949.45 million, a price-to-earnings ratio of -13.45 and a beta of 0.60. The company has a current ratio of 6.78, a quick ratio of 4.96 and a debt-to-equity ratio of 0.52.

Geron (NASDAQ:GERN) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $51.84 million during the quarter, compared to analyst estimates of $50.59 million. Geron had a negative net margin of 35.48% and a negative return on equity of 23.31%. As a group, equities analysts predict that Geron Corporation will post -0.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Geron from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Geron currently has an average rating of “Hold” and a consensus price target of $4.00.

Geron Company Profile

Geron Corporation (NASDAQ: GERN) is a clinical-stage biotechnology company dedicated to developing and commercializing novel treatments that target telomerase, an enzyme critical to cancer cell immortality. The company’s research is focused on hematologic malignancies and solid tumors, with a pipeline designed to address diseases that have historically had limited therapeutic options.

The lead product candidate, imetelstat, is a first-in-class telomerase inhibitor currently in Phase II and Phase III clinical trials for myelofibrosis and myelodysplastic syndromes.