Geron (GERN) Trading Up -2.3%

Shares of Geron Co. (NASDAQ:GERN) were up 2.3% during mid-day trading on Wednesday . The stock traded as high as $2.72 and last traded at $2.56. Approximately 1,251,372 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 2,766,825 shares. The stock had previously closed at $2.62.

Several analysts have issued reports on GERN shares. Zacks Investment Research cut shares of Geron from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Geron in a research note on Friday, November 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $2.50 price target on shares of Geron in a report on Friday, November 3rd. Finally, BidaskClub raised shares of Geron from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Geron currently has a consensus rating of “Hold” and a consensus target price of $3.75.

The stock has a market capitalization of $410.82, a price-to-earnings ratio of -13.28 and a beta of 2.78.

A number of institutional investors have recently made changes to their positions in GERN. State Street Corp lifted its position in shares of Geron by 9.8% in the 2nd quarter. State Street Corp now owns 5,127,578 shares of the biopharmaceutical company’s stock worth $14,205,000 after purchasing an additional 459,700 shares during the period. Russell Investments Group Ltd. lifted its position in Geron by 783.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 363,990 shares of the biopharmaceutical company’s stock valued at $794,000 after acquiring an additional 322,810 shares during the period. Vanguard Group Inc. lifted its position in Geron by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 7,406,968 shares of the biopharmaceutical company’s stock valued at $20,518,000 after acquiring an additional 294,785 shares during the period. Creative Planning lifted its position in Geron by 69.8% during the 4th quarter. Creative Planning now owns 308,523 shares of the biopharmaceutical company’s stock valued at $555,000 after acquiring an additional 126,810 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Geron by 42.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 82,426 shares of the biopharmaceutical company’s stock valued at $180,000 after acquiring an additional 24,370 shares during the period. 39.32% of the stock is currently owned by institutional investors and hedge funds.

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Geron Company Profile

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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