Algert Global LLC Raises Stock Holdings in Geron Co. (NASDAQ:GERN)

Algert Global LLC boosted its stake in Geron Co. (NASDAQ:GERN) by 210.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 395,071 shares of the biopharmaceutical company’s stock after buying an additional 268,000 shares during the period. Algert Global LLC owned approximately 0.07% of Geron worth $1,794,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Geron by 4.6% during the first quarter. Vanguard Group Inc. now owns 29,869,287 shares of the biopharmaceutical company’s stock worth $98,569,000 after buying an additional 1,304,713 shares during the period. Darwin Global Management Ltd. acquired a new stake in shares of Geron during the second quarter worth $106,185,000. Farallon Capital Management LLC lifted its holdings in shares of Geron by 124.6% during the second quarter. Farallon Capital Management LLC now owns 16,837,000 shares of the biopharmaceutical company’s stock worth $71,389,000 after purchasing an additional 9,342,000 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Geron by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,450,382 shares of the biopharmaceutical company’s stock worth $20,205,000 after purchasing an additional 111,361 shares during the period. Finally, First Turn Management LLC acquired a new stake in shares of Geron during the third quarter worth $14,187,000. 73.71% of the stock is currently owned by hedge funds and other institutional investors.

Geron Price Performance

Shares of NASDAQ:GERN opened at $4.17 on Thursday. The business has a 50 day moving average price of $4.19 and a 200 day moving average price of $4.32. The company has a quick ratio of 2.74, a current ratio of 2.89 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -13.03 and a beta of 0.52. Geron Co. has a twelve month low of $1.64 and a twelve month high of $5.34.

Geron (NASDAQ:GERN) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.05. The firm had revenue of $28.27 million during the quarter, compared to analysts’ expectations of $18.97 million. Geron had a negative return on equity of 67.53% and a negative net margin of 682.48%. The company’s revenue for the quarter was up 17138.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) EPS. Research analysts predict that Geron Co. will post -0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GERN shares. Leerink Partnrs raised Geron to a “strong-buy” rating in a report on Monday, September 9th. Scotiabank began coverage on Geron in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $6.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price objective on shares of Geron in a research note on Friday, August 9th. Wedbush reissued an “outperform” rating and issued a $8.00 price target on shares of Geron in a research note on Thursday, August 8th. Finally, Leerink Partners initiated coverage on Geron in a research note on Monday, September 9th. They issued an “outperform” rating and a $7.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.05.

About Geron

Geron Corporation, a late-stage clinical biopharmaceutical company, focuses on the development and commercialization of therapeutics for myeloid hematologic malignancies. It develops imetelstat, a telomerase inhibitor that is in Phase 3 clinical trials, which inhibits the uncontrolled proliferation of malignant stem and progenitor cells in myeloid hematologic malignancies for the treatment of low or intermediate-1 risk myelodysplastic syndromes and intermediate-2 or high-risk myelofibrosis.