Seven Fleet Capital Management LP Grows Stock Holdings in Geron Corporation $GERN

Seven Fleet Capital Management LP increased its position in shares of Geron Corporation (NASDAQ:GERN) by 149.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,057,228 shares of the biopharmaceutical company’s stock after acquiring an additional 633,048 shares during the period. Seven Fleet Capital Management LP’s holdings in Geron were worth $1,353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Geron in the 2nd quarter valued at about $62,868,000. Soleus Capital Management L.P. lifted its position in shares of Geron by 572.5% during the second quarter. Soleus Capital Management L.P. now owns 16,140,000 shares of the biopharmaceutical company’s stock worth $22,757,000 after purchasing an additional 13,740,000 shares in the last quarter. Nantahala Capital Management LLC acquired a new stake in shares of Geron during the third quarter worth about $12,364,000. Millennium Management LLC boosted its stake in shares of Geron by 97.8% in the third quarter. Millennium Management LLC now owns 11,367,989 shares of the biopharmaceutical company’s stock valued at $15,574,000 after purchasing an additional 5,620,635 shares during the period. Finally, Eversept Partners LP boosted its stake in shares of Geron by 40.2% in the fourth quarter. Eversept Partners LP now owns 17,659,983 shares of the biopharmaceutical company’s stock valued at $23,311,000 after purchasing an additional 5,060,981 shares during the period. 73.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Geron Stock Down 1.3%

Shares of NASDAQ GERN opened at $1.53 on Thursday. The stock has a market cap of $982.98 million, a P/E ratio of -13.91 and a beta of 0.61. The business’s fifty day simple moving average is $1.44 and its 200-day simple moving average is $1.48. Geron Corporation has a 12-month low of $1.04 and a 12-month high of $2.01. The company has a current ratio of 6.91, a quick ratio of 5.16 and a debt-to-equity ratio of 0.55.

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

About Geron

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.