GSA Capital Partners LLP Cuts Position in Geron Corporation $GERN

GSA Capital Partners LLP reduced its stake in shares of Geron Corporation (NASDAQ:GERN) by 93.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 44,430 shares of the biopharmaceutical company’s stock after selling 634,901 shares during the period. GSA Capital Partners LLP’s holdings in Geron were worth $61,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Profund Advisors LLC increased its holdings in shares of Geron by 21.3% in the 3rd quarter. Profund Advisors LLC now owns 213,466 shares of the biopharmaceutical company’s stock valued at $292,000 after purchasing an additional 37,535 shares in the last quarter. Candriam S.C.A. grew its position in Geron by 71.6% during the third quarter. Candriam S.C.A. now owns 3,253,960 shares of the biopharmaceutical company’s stock worth $4,458,000 after buying an additional 1,358,068 shares during the period. Ballentine Partners LLC increased its holdings in Geron by 14.5% in the third quarter. Ballentine Partners LLC now owns 93,971 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 11,887 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Geron during the 3rd quarter valued at approximately $171,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Geron during the 3rd quarter worth approximately $155,000. 73.71% of the stock is owned by institutional investors and hedge funds.

Geron Stock Down 7.7%

GERN opened at $1.55 on Tuesday. The firm has a market cap of $989.44 million, a P/E ratio of -11.92 and a beta of 0.58. The business’s fifty day simple moving average is $1.49 and its 200 day simple moving average is $1.36. Geron Corporation has a 52 week low of $1.04 and a 52 week high of $2.01. The company has a quick ratio of 4.87, a current ratio of 5.96 and a debt-to-equity ratio of 0.48.

Geron (NASDAQ:GERN) last released its earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Geron had a negative net margin of 46.65% and a negative return on equity of 27.94%. The firm had revenue of $48.02 million during the quarter, compared to analysts’ expectations of $50.43 million. As a group, equities research analysts anticipate that Geron Corporation will post -0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

GERN has been the subject of several research analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Geron in a research note on Thursday, January 29th. HC Wainwright restated a “neutral” rating on shares of Geron in a research report on Tuesday, December 9th. UBS Group reaffirmed a “neutral” rating on shares of Geron in a research note on Tuesday, December 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Geron in a research report on Wednesday, January 28th. Finally, Needham & Company LLC dropped their target price on shares of Geron from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Geron has an average rating of “Hold” and an average price target of $2.17.

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.