Geron Co. (NASDAQ:GERN) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC reduced its stake in Geron Co. (NASDAQ:GERN) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,173 shares of the biopharmaceutical company’s stock after selling 10,995 shares during the period. Private Advisor Group LLC’s holdings in Geron were worth $764,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI raised its holdings in shares of Geron by 1,200.0% during the second quarter. National Bank of Canada FI now owns 6,500 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 6,000 shares during the last quarter. Crewe Advisors LLC raised its holdings in shares of Geron by 870.0% during the first quarter. Crewe Advisors LLC now owns 9,700 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 8,700 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Geron during the first quarter valued at approximately $34,000. American Trust bought a new stake in shares of Geron during the first quarter valued at approximately $38,000. Finally, CIBC Asset Management Inc raised its holdings in shares of Geron by 32.7% during the second quarter. CIBC Asset Management Inc now owns 15,438 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 3,805 shares during the last quarter. 73.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Geron to a “sell” rating in a report on Monday, August 5th. Wedbush reaffirmed an “outperform” rating and set a $8.00 price target on shares of Geron in a report on Thursday, August 8th. Leerink Partners began coverage on Geron in a report on Monday, September 9th. They set an “outperform” rating and a $7.00 price target on the stock. Leerink Partnrs raised Geron to a “strong-buy” rating in a report on Monday, September 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $6.00 target price on shares of Geron in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Geron currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.94.

Geron Stock Performance

NASDAQ GERN opened at $4.11 on Friday. Geron Co. has a 1 year low of $1.64 and a 1 year high of $5.34. The business’s fifty day moving average is $4.35 and its two-hundred day moving average is $4.28. The company has a quick ratio of 3.60, a current ratio of 3.61 and a debt-to-equity ratio of 0.12.

Geron (NASDAQ:GERN) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $0.88 million for the quarter, compared to analysts’ expectations 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 in the prior year, the company earned ($0.09) earnings per share. On average, analysts forecast that Geron Co. will post -0.34 EPS for the current fiscal year.

Geron 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.