Geron Corporation (GERN) Sees Large Volume Increase
Geron Corporation (NASDAQ:GERN) saw an uptick in trading volume on Friday . 1,924,087 shares traded hands during trading, an increase of 75% from the previous session’s volume of 1,098,000 shares.The stock last traded at $2.20 and had previously closed at $2.16.
A number of brokerages have recently weighed in on GERN. BidaskClub lowered shares of Geron Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Zacks Investment Research raised shares of Geron Corporation from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a report on Thursday, June 15th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Geron Corporation in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $3.88.
The firm’s market cap is $350.27 million. The company’s 50 day moving average is $2.15 and its 200-day moving average is $2.47.
Geron Corporation (NASDAQ:GERN) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The business had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.38 million. Geron Corporation had a negative net margin of 433.72% and a negative return on equity of 21.30%. The business’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. On average, equities research analysts anticipate that Geron Corporation will post ($0.18) EPS for the current year.
Several large investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Geron Corporation by 1.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 58,056 shares of the biopharmaceutical company’s stock valued at $161,000 after acquiring an additional 1,000 shares in the last quarter. Creative Planning boosted its holdings in Geron Corporation by 1.3% during the second quarter. Creative Planning now owns 103,213 shares of the biopharmaceutical company’s stock worth $286,000 after buying an additional 1,345 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in Geron Corporation during the second quarter worth about $122,000. Tudor Investment Corp ET AL boosted its holdings 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 worth $119,000 after buying an additional 5,669 shares in the last quarter. Finally, American International Group Inc. boosted its holdings in Geron Corporation by 7.1% during the first quarter. American International Group Inc. now owns 92,964 shares of the biopharmaceutical company’s stock worth $211,000 after buying an additional 6,140 shares in the last quarter. 38.79% of the stock is currently 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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