Seven Fleet Capital Management LP Boosts Stock Position in Geron Corporation $GERN

Seven Fleet Capital Management LP increased its stake in shares of Geron Corporation (NASDAQ:GERN) by 149.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,057,228 shares of the biopharmaceutical company’s stock after buying an additional 633,048 shares during the quarter. Seven Fleet Capital Management LP owned about 0.16% of Geron worth $1,353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Geron by 2.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 392,534 shares of the biopharmaceutical company’s stock valued at $627,000 after buying an additional 8,123 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Geron by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,372,016 shares of the biopharmaceutical company’s stock worth $2,182,000 after acquiring an additional 104,840 shares during the period. Legal & General Group Plc boosted its position in shares of Geron by 8.3% during the 2nd quarter. Legal & General Group Plc now owns 550,871 shares of the biopharmaceutical company’s stock valued at $775,000 after acquiring an additional 42,345 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Geron by 4.1% in the second quarter. Rhumbline Advisers now owns 873,893 shares of the biopharmaceutical company’s stock valued at $1,232,000 after purchasing an additional 34,437 shares during the period. Finally, Prudential Financial Inc. grew its holdings in shares of Geron by 72.3% in the second quarter. Prudential Financial Inc. now owns 79,494 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 33,352 shares during the period. Institutional investors and hedge funds own 73.71% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Geron from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Two equities 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 data from MarketBeat, Geron has an average rating of “Hold” and an average price target of $4.00.

Geron Stock Performance

NASDAQ GERN opened at $1.53 on Thursday. The stock has a market cap of $982.98 million, a PE ratio of -13.91 and a beta of 0.61. 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 Corporation has a twelve month low of $1.04 and a twelve month high of $2.01. The stock has a fifty day simple moving average of $1.44 and a 200-day simple moving average of $1.48.

Geron (NASDAQ:GERN) last issued its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Geron had a negative net margin of 34.17% and a negative return on equity of 24.48%. The company had revenue of $57.48 million during the quarter, compared to analysts’ expectations of $55.30 million. Equities analysts anticipate that Geron Corporation will post -0.04 earnings per share for the current year.

Geron 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.