JPMorgan Chase & Co. Has $2.36 Million Stock Position in Geron Co. (NASDAQ:GERN)

JPMorgan Chase & Co. lessened its holdings in shares of Geron Co. (NASDAQ:GERN) by 40.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 519,674 shares of the biopharmaceutical company’s stock after selling 347,016 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.09% of Geron worth $2,359,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Readystate Asset Management LP acquired a new position in Geron during the third quarter worth approximately $58,000. Rovin Capital UT ADV acquired a new position in Geron during the third quarter worth approximately $62,000. Empowered Funds LLC acquired a new position in Geron during the third quarter worth approximately $67,000. Inspire Advisors LLC acquired a new position in Geron during the third quarter worth approximately $68,000. Finally, US Bancorp DE increased its position in Geron by 68.4% during the third quarter. US Bancorp DE now owns 18,296 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 7,429 shares during the last quarter. Institutional investors and hedge funds own 73.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GERN shares. Needham & Company LLC boosted their price target on Geron from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Barclays upgraded Geron to a “strong-buy” rating in a report on Friday, November 29th. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Geron in a report on Tuesday, December 10th. Finally, Scotiabank started coverage on Geron in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $6.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Geron currently has a consensus rating of “Moderate Buy” and an average target price of $7.25.

Geron Trading Up 2.4 %

Shares of NASDAQ:GERN opened at $2.96 on Wednesday. The company has a market capitalization of $1.79 billion, a P/E ratio of -9.25 and a beta of 0.55. Geron Co. has a 1 year low of $1.64 and a 1 year high of $5.34. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 2.74. The business’s 50 day simple moving average is $3.63 and its 200 day simple moving average is $4.15.

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