Geron Corporation (NASDAQ:GERN) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.76 and last traded at $1.95, with a volume of 2895000 shares. The stock had previously closed at $2.06.
GERN has been the subject of a number of research analyst reports. BidaskClub lowered Geron Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research lowered Geron Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $2.50 price target on shares of Geron Corporation in a research note on Friday, November 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Geron Corporation in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $3.75.
Geron Corporation (NASDAQ:GERN) last announced its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $0.16 million during the quarter, compared to analyst estimates of $0.40 million. Geron Corporation had a negative return on equity of 25.14% and a negative net margin of 2,992.67%. The company’s revenue for the quarter was down 96.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) earnings per share. research analysts anticipate that Geron Corporation will post -0.17 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. IHT Wealth Management LLC purchased a new position in Geron Corporation during the second quarter valued at $122,000. Russell Investments Group Ltd. purchased a new position in Geron Corporation during the second quarter valued at $114,000. Parametric Portfolio Associates LLC lifted its position in Geron Corporation by 59.4% during the second quarter. Parametric Portfolio Associates LLC now owns 47,976 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 17,877 shares during the period. Tudor Investment Corp ET AL lifted its position in Geron Corporation by 12.1% during the first quarter. Tudor Investment Corp ET AL now owns 52,369 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 5,669 shares during the period. Finally, Zacks Investment Management purchased a new position in Geron Corporation during the second quarter valued at $148,000. 39.00% of the stock is owned by institutional investors and hedge funds.
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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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