Geron Co. (NASDAQ:GERN) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 62,898,757 shares, a growth of 5.2% from the August 15th total of 59,807,261 shares. Based on an average trading volume of 9,511,669 shares, the days-to-cover ratio is presently 6.6 days. Currently, 34.4% of the company’s shares are short sold.
In other news, Director Robert J. Spiegel sold 175,000 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $6.85, for a total transaction of $1,198,750.00. Following the completion of the transaction, the director now directly owns 110,576 shares in the company, valued at $757,445.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen Rosenfield sold 1,362,250 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $4.51, for a total value of $6,143,747.50. Following the transaction, the executive vice president now owns 36,000 shares of the company’s stock, valued at $162,360. The disclosure for this sale can be found here. 8.20% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. Millennium Management LLC increased its holdings in shares of Geron by 573.5% during the fourth quarter. Millennium Management LLC now owns 101,800 shares of the biopharmaceutical company’s stock valued at $183,000 after acquiring an additional 86,684 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Geron by 17.0% during the first quarter. Wells Fargo & Company MN now owns 124,353 shares of the biopharmaceutical company’s stock valued at $529,000 after acquiring an additional 18,111 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Geron during the first quarter valued at approximately $106,000. Swiss National Bank increased its holdings in shares of Geron by 13.1% during the first quarter. Swiss National Bank now owns 284,400 shares of the biopharmaceutical company’s stock valued at $1,209,000 after acquiring an additional 32,900 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Geron during the first quarter valued at approximately $442,000. Institutional investors and hedge funds own 37.17% of the company’s stock.
A number of equities research analysts have weighed in on GERN shares. ValuEngine upgraded Geron from a “hold” rating to a “buy” rating in a report on Wednesday, May 23rd. B. Riley started coverage on Geron in a report on Thursday, July 5th. They issued a “buy” rating and a $5.75 target price for the company. BidaskClub downgraded Geron from a “hold” rating to a “sell” rating in a report on Tuesday, June 12th. Finally, FBR & Co started coverage on Geron in a report on Thursday, July 5th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $5.31.
Shares of GERN stock opened at $5.66 on Friday. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -31.44 and a beta of 3.13. Geron has a fifty-two week low of $1.74 and a fifty-two week high of $6.99.
Geron (NASDAQ:GERN) last issued its earnings results on Tuesday, July 31st. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The business had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.21 million. Geron had a negative return on equity of 23.15% and a negative net margin of 3,232.73%. equities analysts anticipate that Geron will post 0.39 EPS for the current year.
Geron Company Profile
Geron Corporation operates as a biopharmaceutical company. The company supports the clinical stage development of imetelstat, a telomerase inhibitor for the treatment of hematologic myeloid malignancies. It has collaboration and license agreement with Janssen Biotech, Inc to develop and commercialize imetelstat worldwide for indications in oncology, including hematologic myeloid malignancies and other human therapeutic uses.
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