Geron Corporation (GERN) Sees Significant Decrease in Short Interest
Geron Corporation (NASDAQ:GERN) saw a significant drop in short interest during the month of September. As of September 29th, there was short interest totalling 28,496,450 shares, a drop of 13.5% from the September 15th total of 32,924,843 shares. Based on an average daily volume of 693,050 shares, the days-to-cover ratio is currently 41.1 days. Currently, 18.0% of the shares of the company are short sold.
Geron Corporation (NASDAQ GERN) opened at 2.14 on Friday. The company’s market capitalization is $340.72 million. The firm has a 50-day moving average of $2.17 and a 200 day moving average of $2.48. Geron Corporation has a 52-week low of $1.81 and a 52-week high of $3.15.
Geron Corporation (NASDAQ:GERN) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $0.38 million. During the same period in the previous year, the business posted ($0.05) EPS. The business’s revenue was down 19.0% compared to the same quarter last year. Equities analysts predict that Geron Corporation will post ($0.18) earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of GERN. UBS Asset Management Americas Inc. raised its position in Geron Corporation by 91.9% during the first quarter. UBS Asset Management Americas Inc. now owns 105,125 shares of the biopharmaceutical company’s stock worth $239,000 after acquiring an additional 50,334 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Geron Corporation by 31.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 57,056 shares of the biopharmaceutical company’s stock worth $130,000 after acquiring an additional 13,500 shares during the period. American International Group Inc. raised its position in Geron Corporation by 7.1% during the first quarter. American International Group Inc. now owns 92,964 shares of the biopharmaceutical company’s stock worth $211,000 after acquiring an additional 6,140 shares during the period. Vanguard Group Inc. raised its position in Geron Corporation by 7.6% during the first quarter. Vanguard Group Inc. now owns 7,112,183 shares of the biopharmaceutical company’s stock worth $16,145,000 after acquiring an additional 502,485 shares during the period. Finally, Geode Capital Management LLC raised its position in Geron Corporation by 11.0% during the first quarter. Geode Capital Management LLC now owns 1,212,214 shares of the biopharmaceutical company’s stock worth $2,751,000 after acquiring an additional 120,222 shares during the period. Institutional investors own 38.79% of the company’s stock.
Several equities research analysts recently issued reports on the stock. FBR & Co restated a “buy” rating on shares of Geron Corporation in a report on Tuesday, July 4th. Zacks Investment Research cut shares of Geron Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, BidaskClub cut shares of Geron Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.75.
Geron Corporation Company Profile
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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