Pale Fire Capital SE Buys 418,900 Shares of Geron Corporation $GERN

Pale Fire Capital SE increased its stake in Geron Corporation (NASDAQ:GERN) by 8.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,307,204 shares of the biopharmaceutical company’s stock after buying an additional 418,900 shares during the period. Geron accounts for about 0.2% of Pale Fire Capital SE’s holdings, making the stock its 24th largest holding. Pale Fire Capital SE owned 0.83% of Geron worth $6,793,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC bought a new stake in Geron in the second quarter worth $15,648,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Geron during the second quarter valued at $2,982,000. Renaissance Technologies LLC increased its holdings in shares of Geron by 144.1% during the first quarter. Renaissance Technologies LLC now owns 1,799,521 shares of the biopharmaceutical company’s stock valued at $2,681,000 after acquiring an additional 1,062,355 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Geron by 826.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,218,196 shares of the biopharmaceutical company’s stock worth $3,304,000 after purchasing an additional 1,978,839 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Geron by 68.9% in the 1st quarter. Bank of America Corp DE now owns 4,556,278 shares of the biopharmaceutical company’s stock worth $6,789,000 after purchasing an additional 1,858,268 shares during the last quarter. Institutional investors own 73.71% of the company’s stock.

Geron Stock Up 7.4%

GERN stock opened at $1.59 on Thursday. Geron Corporation has a 1-year low of $1.04 and a 1-year high of $2.01. The business has a fifty day moving average price of $1.46 and a 200-day moving average price of $1.47. The company has a debt-to-equity ratio of 0.55, a current ratio of 6.91 and a quick ratio of 5.16. The stock has a market capitalization of $1.02 billion, a P/E ratio of -14.45 and a beta of 0.61.

Geron (NASDAQ:GERN) last announced its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Geron had a negative net margin of 34.17% and a negative return on equity of 24.48%. The business had revenue of $57.48 million for the quarter, compared to the consensus estimate of $55.30 million. Equities analysts forecast that Geron Corporation will post -0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Geron from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.00.

Geron 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.