Nantahala Capital Management LLC Buys Shares of 12,225,000 Geron Corporation $GERN

Nantahala Capital Management LLC purchased a new stake in Geron Corporation (NASDAQ:GERN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 12,225,000 shares of the biopharmaceutical company’s stock, valued at approximately $15,648,000. Nantahala Capital Management LLC owned about 1.90% of Geron as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC bought a new stake in shares of Geron during the 2nd quarter worth $25,000. Vistica Wealth Advisors LLC acquired a new stake in Geron in the fourth quarter valued at about $33,000. Caitong International Asset Management Co. Ltd grew its position in Geron by 3,307.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 25,148 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 24,410 shares during the last quarter. OneDigital Investment Advisors LLC bought a new position in Geron in the second quarter valued at about $38,000. Finally, Amundi bought a new position in Geron in the fourth quarter valued at about $38,000. Institutional investors own 73.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Geron from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.00.

Geron Price Performance

GERN stock opened at $1.51 on Friday. The company has a fifty day moving average price of $1.45 and a 200-day moving average price of $1.48. The company has a market capitalization of $970.13 million, a P/E ratio of -13.73 and a beta of 0.61. Geron Corporation has a 52-week low of $1.04 and a 52-week high of $2.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 5.16 and a current ratio of 6.91.

Geron (NASDAQ:GERN) last issued its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Geron had a negative return on equity of 24.48% and a negative net margin of 34.17%.The business had revenue of $57.48 million for the quarter, compared to analyst estimates of $55.30 million. As a group, equities analysts expect that Geron Corporation will post -0.04 EPS for the current year.

About Geron

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.