Nantahala Capital Management LLC Buys New Position in Geron Corporation $GERN

Nantahala Capital Management LLC purchased a new position in shares of Geron Corporation (NASDAQ:GERN) in the 2nd quarter, HoldingsChannel reports. The firm purchased 12,225,000 shares of the biopharmaceutical company’s stock, valued at approximately $15,648,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Seven Fleet Capital Management LP increased its position in shares of Geron by 149.2% during the second quarter. Seven Fleet Capital Management LP now owns 1,057,228 shares of the biopharmaceutical company’s stock worth $1,353,000 after buying an additional 633,048 shares during the period. Corient Private Wealth LP bought a new position in Geron during the second quarter worth $45,000. Bank of America Corp DE acquired a new position in Geron in the second quarter valued at $4,524,000. Man Group plc acquired a new position in Geron in the second quarter valued at $892,000. Finally, Jupiter Topco LLC bought a new stake in Geron during the second quarter valued at $305,000. Institutional investors and hedge funds own 73.71% of the company’s stock.

Analysts Set New Price Targets

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

Geron Stock Performance

Shares of GERN stock opened at $1.51 on Friday. The firm has a market capitalization of $970.13 million, a PE ratio of -13.73 and a beta of 0.61. The firm has a fifty day simple moving average of $1.45 and a two-hundred day simple moving average of $1.48. 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 Corporation has a 12 month low of $1.04 and a 12 month high of $2.01.

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

Geron Company 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.