Man Group plc Invests $892,000 in Geron Corporation $GERN

Man Group plc bought a new stake in shares of Geron Corporation (NASDAQ:GERN) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 696,669 shares of the biopharmaceutical company’s stock, valued at approximately $892,000.

A number of other institutional investors have also recently made changes to their positions in GERN. Hsbc Holdings PLC bought a new stake in Geron during the second quarter worth approximately $25,000. Vistica Wealth Advisors LLC bought a new stake in shares of Geron in the 4th quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Geron by 3,307.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 25,148 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 24,410 shares during the period. OneDigital Investment Advisors LLC purchased a new position in shares of Geron in the 2nd quarter worth approximately $38,000. Finally, Amundi bought a new position in shares of Geron during the 4th quarter valued at approximately $38,000. Institutional investors own 73.71% of the company’s stock.

Geron Price Performance

GERN stock opened at $1.51 on Friday. The stock has a market cap of $970.13 million, a PE ratio of -13.73 and a beta of 0.61. Geron Corporation has a 12 month low of $1.04 and a 12 month high of $2.01. The company has a 50-day moving average price of $1.46 and a 200 day moving average price of $1.47. The company has a current ratio of 6.91, a quick ratio of 5.16 and a debt-to-equity ratio of 0.55.

Geron (NASDAQ:GERN) last posted its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share 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 firm had revenue of $57.48 million during the quarter, compared to analysts’ expectations of $55.30 million. Equities research analysts anticipate that Geron Corporation will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Geron from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.