Patient Square Capital LP Buys Shares of 716,000 Geron Corporation $GERN

Patient Square Capital LP purchased a new position in Geron Corporation (NASDAQ:GERN) during the second quarter, Holdings Channel reports. The institutional investor purchased 716,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,010,000. Geron accounts for 0.4% of Patient Square Capital LP’s investment portfolio, making the stock its 17th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning raised its position in shares of Geron by 235.1% in the 2nd quarter. Creative Planning now owns 357,427 shares of the biopharmaceutical company’s stock worth $504,000 after acquiring an additional 250,752 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Geron by 16.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 143,832 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 19,812 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Geron by 4.3% during the 2nd quarter. Geode Capital Management LLC now owns 14,152,038 shares of the biopharmaceutical company’s stock worth $19,956,000 after buying an additional 584,444 shares during the period. Nan Fung Trinity HK Ltd. acquired a new position in shares of Geron during the 2nd quarter valued at $1,937,000. Finally, Savant Capital LLC boosted its stake in Geron by 73.8% during the second quarter. Savant Capital LLC now owns 26,074 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 11,074 shares in the last quarter. Institutional investors and hedge funds own 73.71% of the company’s stock.

Geron Stock Performance

NASDAQ GERN opened at $1.13 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.79 and a current ratio of 7.87. The company has a market capitalization of $721.34 million, a PE ratio of -8.69 and a beta of 0.57. Geron Corporation has a 52-week low of $1.04 and a 52-week high of $4.21. The company has a 50-day simple moving average of $1.26 and a 200 day simple moving average of $1.34.

Geron (NASDAQ:GERN) last released its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The firm had revenue of $47.23 million during the quarter, compared to the consensus estimate of $55.24 million. Geron had a negative net margin of 53.52% and a negative return on equity of 31.37%. On average, research analysts predict that Geron Corporation will post -0.25 EPS for the current year.

Wall Street Analyst Weigh In

GERN has been the subject of a number of research analyst reports. Needham & Company LLC decreased their target price on Geron from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Geron in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Geron currently has a consensus rating of “Hold” and a consensus price target of $3.64.

Geron Company Profile

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.