Geron Corporation (NASDAQ:GERN – Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.45 and traded as high as $1.50. Geron shares last traded at $1.49, with a volume of 11,041,883 shares traded.
Analysts Set New Price Targets
Separately, Weiss Ratings lowered shares of Geron from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.50.
View Our Latest Report on GERN
Geron Stock Up 3.5%
Geron (NASDAQ:GERN – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $51.84 million for the quarter, compared to analyst estimates of $50.59 million. Geron had a negative return on equity of 23.31% and a negative net margin of 35.48%. On average, equities research analysts forecast that Geron Corporation will post -0.02 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of GERN. 55 North Private Wealth LLC purchased a new stake in shares of Geron during the fourth quarter worth approximately $29,000. LCM Capital Management Inc lifted its holdings in shares of Geron by 80.6% during the fourth quarter. LCM Capital Management Inc now owns 22,400 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 10,000 shares during the period. Vistica Wealth Advisors LLC purchased a new position in Geron in the 4th quarter valued at $33,000. Hsbc Holdings PLC acquired a new position in Geron in the 1st quarter valued at $33,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Geron by 3,307.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 25,148 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 24,410 shares during the period. 73.71% of the stock is currently owned by hedge funds and other institutional investors.
Geron Company Profile
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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