Victory Capital Management Inc. Sells 68,522 Shares of Geron Co. (NASDAQ:GERN)

Victory Capital Management Inc. trimmed its holdings in Geron Co. (NASDAQ:GERN) by 49.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 70,033 shares of the biopharmaceutical company’s stock after selling 68,522 shares during the quarter. Victory Capital Management Inc.’s holdings in Geron were worth $318,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. National Bank of Canada FI raised its holdings in Geron by 1,200.0% during the 2nd 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. American Trust bought a new stake in Geron during the 1st quarter valued at $38,000. Rovin Capital UT ADV bought a new stake in Geron during the 3rd quarter valued at $62,000. CIBC Asset Management Inc raised its holdings in Geron by 32.7% during the 2nd 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. Finally, Csenge Advisory Group bought a new stake in Geron during the 2nd quarter valued at $66,000. 73.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Leerink Partners assumed coverage on shares of Geron in a report on Monday, September 9th. They set an “outperform” rating and a $7.00 price target for the company. StockNews.com raised shares of Geron to a “sell” rating in a research report on Monday, August 5th. Needham & Company LLC reissued a “buy” rating and set a $6.00 price objective on shares of Geron in a research report on Friday, August 9th. HC Wainwright began coverage on shares of Geron in a research report on Tuesday, November 5th. They set a “buy” rating and a $8.00 price objective on the stock. Finally, Leerink Partnrs raised shares of Geron to a “strong-buy” rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $7.05.

Geron Stock Down 1.2 %

NASDAQ:GERN opened at $4.12 on Friday. The firm’s 50-day moving average price is $4.18 and its 200-day moving average price is $4.32. The company has a market capitalization of $2.49 billion, a PE ratio of -12.88 and a beta of 0.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 2.74. Geron Co. has a 1-year low of $1.64 and a 1-year high of $5.34.

Geron (NASDAQ:GERN) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. The firm had revenue of $28.27 million for the quarter, compared to the consensus estimate of $18.97 million. Geron had a negative net margin of 682.48% and a negative return on equity of 67.53%. The company’s revenue was up 17138.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. On average, equities analysts predict that Geron Co. will post -0.25 EPS for the current fiscal 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.