Geron Corporation (GERN) Sees Significant Drop in Short Interest
Geron Corporation (NASDAQ:GERN) was the recipient of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 31,401,742 shares, a decrease of 4.4% from the July 31st total of 32,854,035 shares. Based on an average daily trading volume, of 1,921,643 shares, the days-to-cover ratio is presently 16.3 days. Currently, 19.8% of the shares of the stock are sold short.
Geron Corporation (NASDAQ:GERN) opened at 2.00 on Friday. The firm’s market capitalization is $318.43 million. Geron Corporation has a 12 month low of $1.81 and a 12 month high of $3.15. The stock’s 50 day moving average is $2.45 and its 200-day moving average is $2.48.
Geron Corporation (NASDAQ:GERN) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Geron Corporation had a negative net margin of 433.72% and a negative return on equity of 21.30%. The firm had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.38 million. During the same quarter last year, the business earned ($0.05) earnings per share. The business’s revenue was down 19.0% on a year-over-year basis. Equities analysts anticipate that Geron Corporation will post ($0.18) earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on the stock. FBR & Co reiterated a “buy” rating on shares of Geron Corporation in a research report on Tuesday, July 4th. BidaskClub lowered shares of Geron Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research lowered shares of Geron Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Geron Corporation presently has a consensus rating of “Hold” and a consensus price target of $3.88.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Geron Corporation during the second quarter valued at about $114,000. Tudor Investment Corp ET AL boosted its position in shares of Geron Corporation by 12.1% in the first quarter. Tudor Investment Corp ET AL now owns 52,369 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 5,669 shares in the last quarter. IHT Wealth Management LLC purchased a new position in shares of Geron Corporation during the second quarter valued at about $122,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of Geron Corporation by 31.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 57,056 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 13,500 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Geron Corporation by 59.4% in the second quarter. Parametric Portfolio Associates LLC now owns 47,976 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 17,877 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.
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About Geron Corporation
Geron Corporation (Geron) is a biopharmaceutical company, which supports the clinical stage development of a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies by Janssen Biotech, Inc (Janssen). The Company is engaged in the development of therapeutic products for oncology. Using its nucleic acid chemistry, Geron designed Imetelstat to be an oligonucleotide that binds with high affinity to the ribonucleic acid (RNA) template of telomerase, thereby directly inhibiting telomerase activity.
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