Private Advisor Group LLC Sells 2,383 Shares of Geron Co. (NASDAQ:GERN)

Private Advisor Group LLC reduced its holdings in Geron Co. (NASDAQ:GERN) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 179,168 shares of the biopharmaceutical company’s stock after selling 2,383 shares during the quarter. Private Advisor Group LLC’s holdings in Geron were worth $760,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. bought a new position in Geron in the first quarter valued at $333,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Geron by 999.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,064,963 shares of the biopharmaceutical company’s stock worth $6,815,000 after acquiring an additional 1,877,184 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Geron by 37.9% in the 4th quarter. BNP Paribas Financial Markets now owns 714,012 shares of the biopharmaceutical company’s stock valued at $1,507,000 after purchasing an additional 196,328 shares in the last quarter. Kingsview Wealth Management LLC bought a new position in shares of Geron during the 1st quarter valued at $34,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Geron by 12.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 64,438 shares of the biopharmaceutical company’s stock valued at $212,000 after purchasing an additional 7,034 shares during the last quarter. Hedge funds and other institutional investors own 73.71% of the company’s stock.

Analysts Set New Price Targets

GERN has been the subject of several recent research reports. Stifel Nicolaus boosted their price target on shares of Geron from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Wedbush reissued an “outperform” rating and issued a $8.00 target price on shares of Geron in a research note on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and set a $6.00 price target on shares of Geron in a research report on Friday, August 9th. Leerink Partners began coverage on Geron in a research note on Monday, September 9th. They issued an “outperform” rating and a $7.00 price target on the stock. Finally, Leerink Partnrs raised Geron to a “strong-buy” rating in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Geron currently has an average rating of “Moderate Buy” and a consensus price target of $7.06.

Insider Transactions at Geron

In related news, COO Andrew J. Grethlein sold 674,348 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $4.56, for a total transaction of $3,075,026.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.10% of the company’s stock.

Geron Trading Down 3.1 %

NASDAQ GERN opened at $4.37 on Tuesday. The stock has a market cap of $2.59 billion, a P/E ratio of -12.49 and a beta of 0.50. Geron Co. has a fifty-two week low of $1.64 and a fifty-two week high of $5.34. The stock has a 50 day simple moving average of $4.57 and a two-hundred day simple moving average of $3.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.60 and a current ratio of 3.61.

Geron (NASDAQ:GERN) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). The company had revenue of $0.88 million during the quarter, compared to analyst estimates of $0.34 million. Geron had a negative return on equity of 73.79% and a negative net margin of 15,990.68%. The firm’s revenue was up 2941.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) earnings per share. On average, analysts forecast that Geron Co. will post -0.34 earnings per share for the current year.

Geron Company Profile

Geron Corporation, a late-stage clinical biopharmaceutical company, focuses on the development and commercialization of therapeutics for myeloid hematologic malignancies. It develops imetelstat, a telomerase inhibitor that is in Phase 3 clinical trials, which inhibits the uncontrolled proliferation of malignant stem and progenitor cells in myeloid hematologic malignancies for the treatment of low or intermediate-1 risk myelodysplastic syndromes and intermediate-2 or high-risk myelofibrosis.