Shares of Geron Corporation (NASDAQ:GERN – Get Free Report) rose 8.6% during trading on Thursday . The stock traded as high as $1.17 and last traded at $1.1950. Approximately 12,079,106 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 15,916,879 shares. The stock had previously closed at $1.10.
Analyst Ratings Changes
Separately, Weiss Ratings upgraded shares of Geron from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.50.
Check Out Our Latest Analysis on GERN
Geron Price Performance
Geron (NASDAQ:GERN – Get Free Report) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $51.84 million during the quarter, compared to the consensus estimate of $50.59 million. Geron had a negative net margin of 35.48% and a negative return on equity of 23.31%. On average, research analysts expect that Geron Corporation will post -0.02 earnings per share for the current year.
Hedge Funds Weigh In On Geron
Several hedge funds have recently bought and sold shares of the company. 55 North Private Wealth LLC purchased a new position in Geron during the fourth quarter valued at approximately $29,000. Hsbc Holdings PLC purchased a new position in Geron during the first quarter valued at approximately $33,000. LCM Capital Management Inc grew its stake in Geron by 80.6% during the fourth quarter. LCM Capital Management Inc now owns 22,400 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 10,000 shares in the last quarter. Vistica Wealth Advisors LLC purchased a new position in Geron during the fourth quarter valued at approximately $33,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Geron by 3,307.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 25,148 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 24,410 shares in the last quarter. Hedge funds and other institutional investors own 73.71% of the company’s stock.
About Geron
Geron Corporation (NASDAQ: GERN) is a clinical-stage biotechnology company dedicated to developing and commercializing novel treatments that target telomerase, an enzyme critical to cancer cell immortality. The company’s research is focused on hematologic malignancies and solid tumors, with a pipeline designed to address diseases that have historically had limited therapeutic options.
The lead product candidate, imetelstat, is a first-in-class telomerase inhibitor currently in Phase II and Phase III clinical trials for myelofibrosis and myelodysplastic syndromes.
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