Geron Co. (NASDAQ:GERN) was the target of a large growth in short interest in the month of January. As of January 12th, there was short interest totalling 32,838,489 shares, a growth of 7.1% from the December 29th total of 30,650,443 shares. Approximately 20.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,400,778 shares, the days-to-cover ratio is currently 23.4 days.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GERN. Russell Investments Group Ltd. acquired a new stake in shares of Geron in the 2nd quarter valued at $114,000. Wells Fargo & Company MN increased its stake in shares of Geron by 13.7% in the 2nd quarter. Wells Fargo & Company MN now owns 122,838 shares of the biopharmaceutical company’s stock valued at $341,000 after buying an additional 14,800 shares during the period. Alliancebernstein L.P. increased its stake in shares of Geron by 6.9% in the 2nd quarter. Alliancebernstein L.P. now owns 195,911 shares of the biopharmaceutical company’s stock valued at $543,000 after buying an additional 12,600 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Geron by 4.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 412,967 shares of the biopharmaceutical company’s stock valued at $1,144,000 after buying an additional 18,774 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Geron by 0.9% in the 2nd quarter. Northern Trust Corp now owns 1,866,468 shares of the biopharmaceutical company’s stock valued at $5,170,000 after buying an additional 16,561 shares during the period. 39.23% of the stock is owned by institutional investors.
Several equities analysts recently commented on GERN shares. Needham & Company LLC restated a “hold” rating on shares of Geron in a research report on Friday, November 3rd. BidaskClub upgraded Geron from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 11th. Stifel Nicolaus restated a “hold” rating and set a $2.50 target price on shares of Geron in a research report on Friday, November 3rd. Finally, Zacks Investment Research upgraded Geron from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a research report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $3.75.
Geron (NASDAQ:GERN) last released its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $0.16 million during the quarter, compared to analysts’ expectations of $0.40 million. Geron had a negative return on equity of 25.14% and a negative net margin of 2,992.67%. The business’s revenue for the quarter was down 96.8% on a year-over-year basis. During the same period last year, the firm earned ($0.02) EPS. equities research analysts anticipate that Geron will post -0.17 EPS for the current year.
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Geron 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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