Geron Corporation (NASDAQ:GERN) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 33,704,078 shares, a decline of 2.9% from the May 31st total of 34,701,059 shares. Approximately 21.3% of the shares of the company are short sold. Based on an average daily trading volume, of 1,080,740 shares, the days-to-cover ratio is currently 31.2 days.
Several analysts have issued reports on GERN shares. Zacks Investment Research upgraded Geron Corporation from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research note on Wednesday, May 31st. FBR & Co reiterated a “buy” rating on shares of Geron Corporation in a research note on Thursday, April 6th. Piper Jaffray Companies reiterated an “overweight” rating and set a $5.00 price objective on shares of Geron Corporation in a research note on Wednesday, April 12th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $2.50 price objective on shares of Geron Corporation in a research note on Wednesday, April 12th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $3.88.
A number of institutional investors have recently made changes to their positions in GERN. Metropolitan Life Insurance Co. NY boosted its position in shares of Geron Corporation by 0.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 112,793 shares of the biopharmaceutical company’s stock worth $233,000 after buying an additional 732 shares in the last quarter. State Street Corp boosted its position in shares of Geron Corporation by 5.4% in the fourth quarter. State Street Corp now owns 4,566,601 shares of the biopharmaceutical company’s stock worth $9,456,000 after buying an additional 234,204 shares in the last quarter. Creative Planning boosted its position in shares of Geron Corporation by 17.9% in the first quarter. Creative Planning now owns 101,868 shares of the biopharmaceutical company’s stock worth $231,000 after buying an additional 15,500 shares in the last quarter. A.R.T. Advisors LLC boosted its position in shares of Geron Corporation by 357.1% in the fourth quarter. A.R.T. Advisors LLC now owns 122,500 shares of the biopharmaceutical company’s stock worth $253,000 after buying an additional 95,700 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Geron Corporation by 31.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 57,056 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 13,500 shares in the last quarter. 38.14% of the stock is currently owned by institutional investors.
Geron Corporation (NASDAQ:GERN) traded down 0.70% during mid-day trading on Friday, hitting $2.82. The company had a trading volume of 752,560 shares. The company’s market capitalization is $448.88 million. Geron Corporation has a 52 week low of $1.81 and a 52 week high of $3.15. The firm’s 50 day moving average is $2.81 and its 200 day moving average is $2.47.
Geron Corporation (NASDAQ:GERN) last announced its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05). Geron Corporation had a negative return on equity of 22.35% and a negative net margin of 468.54%. The company had revenue of $0.54 million for the quarter, compared to analysts’ expectations of $0.27 million. During the same period last year, the firm earned ($0.06) EPS. Geron Corporation’s revenue for the quarter was down 28.0% compared to the same quarter last year. On average, equities research analysts predict that Geron Corporation will post ($0.21) EPS for the current year.
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About Geron Corporation
Geron Corporation (Geron) is a biopharmaceutical company, which supports the clinical stage development of a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies by Janssen Biotech, Inc (Janssen). The Company is engaged in the development of therapeutic products for oncology. Using its nucleic acid chemistry, Geron designed Imetelstat to be an oligonucleotide that binds with high affinity to the ribonucleic acid (RNA) template of telomerase, thereby directly inhibiting telomerase activity.
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