Geron (GERN) Shares Gap Up to $6.20

Geron Co. (NASDAQ:GERN) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.95, but opened at $6.20. Geron shares last traded at $6.38, with a volume of 11060600 shares trading hands.

A number of research analysts have issued reports on the stock. ValuEngine lowered shares of Geron from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. B. Riley assumed coverage on shares of Geron in a research note on Thursday, July 5th. They set a “buy” rating and a $5.75 price target on the stock. BidaskClub upgraded shares of Geron from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. Finally, FBR & Co assumed coverage on shares of Geron in a research note on Thursday, July 5th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Geron presently has a consensus rating of “Buy” and an average price target of $5.31.

The firm has a market cap of $1.17 billion, a P/E ratio of -10.72 and a beta of 3.13.

Geron (NASDAQ:GERN) last released its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.21 million. Geron had a negative net margin of 3,232.73% and a negative return on equity of 23.15%. equities analysts expect that Geron Co. will post 0.39 EPS for the current fiscal year.

In other news, Director Robert J. Spiegel sold 175,000 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $6.85, for a total value of $1,198,750.00. Following the sale, the director now directly owns 110,576 shares of the company’s stock, valued at approximately $757,445.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen Rosenfield sold 1,362,250 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $4.51, for a total transaction of $6,143,747.50. Following the completion of the sale, the executive vice president now directly owns 36,000 shares in the company, valued at $162,360. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in GERN. Summit X LLC purchased a new stake in Geron during the second quarter worth $132,000. Northern Trust Corp boosted its holdings in Geron by 10.1% during the second quarter. Northern Trust Corp now owns 1,980,514 shares of the biopharmaceutical company’s stock worth $6,793,000 after buying an additional 181,526 shares in the last quarter. California Public Employees Retirement System purchased a new stake in Geron during the second quarter worth $443,000. MetLife Investment Advisors LLC boosted its holdings in Geron by 72.3% during the second quarter. MetLife Investment Advisors LLC now owns 78,073 shares of the biopharmaceutical company’s stock worth $268,000 after buying an additional 32,772 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Geron by 307.6% during the second quarter. Bank of America Corp DE now owns 1,257,098 shares of the biopharmaceutical company’s stock worth $4,313,000 after buying an additional 948,680 shares in the last quarter. 37.16% of the stock is currently owned by institutional investors and hedge funds.

Geron Company Profile (NASDAQ:GERN)

Geron Corporation operates as a biopharmaceutical company. The company supports the clinical stage development of imetelstat, a telomerase inhibitor for the treatment of hematologic myeloid malignancies. It has collaboration and license agreement with Janssen Biotech, Inc to develop and commercialize imetelstat worldwide for indications in oncology, including hematologic myeloid malignancies and other human therapeutic uses.

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