Bank of New York Mellon Corp Sells 9,621 Shares of Geron Co. (NASDAQ:GERN)

Bank of New York Mellon Corp reduced its stake in Geron Co. (NASDAQ:GERN) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,649,422 shares of the biopharmaceutical company’s stock after selling 9,621 shares during the period. Bank of New York Mellon Corp owned approximately 0.27% of Geron worth $5,839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in GERN. US Bancorp DE boosted its stake in shares of Geron by 68.4% in the third quarter. US Bancorp DE now owns 18,296 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 7,429 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Geron in the third quarter valued at approximately $178,000. Empowered Funds LLC acquired a new position in Geron during the third quarter valued at approximately $67,000. First Turn Management LLC acquired a new position in Geron during the third quarter valued at approximately $14,187,000. Finally, Intech Investment Management LLC acquired a new position in Geron during the third quarter valued at approximately $1,102,000. 73.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on GERN. Stifel Nicolaus lowered their price objective on shares of Geron from $8.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of Geron in a research report on Wednesday, March 12th. Barclays restated an “overweight” rating and set a $4.00 price objective (down from $9.00) on shares of Geron in a research report on Thursday, February 27th. HC Wainwright restated a “neutral” rating on shares of Geron in a research report on Wednesday, March 12th. Finally, Scotiabank lowered their price objective on shares of Geron from $6.00 to $4.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.75.

Geron Stock Down 1.8 %

Shares of NASDAQ:GERN opened at $1.64 on Monday. The company has a market capitalization of $1.04 billion, a PE ratio of -5.13 and a beta of 0.53. Geron Co. has a 52-week low of $1.46 and a 52-week high of $5.34. The company has a fifty day moving average of $2.58 and a 200-day moving average of $3.56. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.74 and a current ratio of 2.89.

Geron (NASDAQ:GERN) last posted its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The business had revenue of $47.54 million during the quarter, compared to the consensus estimate of $45.29 million. Geron had a negative return on equity of 67.53% and a negative net margin of 682.48%. On average, equities analysts predict that Geron Co. will post -0.25 EPS for the current fiscal year.

About Geron

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.