Geron (NASDAQ:GERN) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Geron Corporation (NASDAQ:GERN)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.45 and traded as high as $1.50. Geron shares last traded at $1.49, with a volume of 11,041,883 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Geron from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2.50.

Geron Trading Up 3.5%

The company has a current ratio of 6.78, a quick ratio of 4.96 and a debt-to-equity ratio of 0.52. The firm has a market cap of $955.87 million, a PE ratio of -13.55 and a beta of 0.60. The business has a fifty day moving average price of $1.31 and a 200 day moving average price of $1.45.

Geron (NASDAQ:GERN) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $51.84 million during the quarter, compared to the consensus estimate of $50.59 million. Geron had a negative return on equity of 23.31% and a negative net margin of 35.48%. Analysts forecast that Geron Corporation will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Geron by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 392,534 shares of the biopharmaceutical company’s stock valued at $627,000 after acquiring an additional 8,123 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Geron by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,372,016 shares of the biopharmaceutical company’s stock worth $2,182,000 after purchasing an additional 104,840 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Geron by 8.3% during the second quarter. Legal & General Group Plc now owns 550,871 shares of the biopharmaceutical company’s stock worth $775,000 after purchasing an additional 42,345 shares during the last quarter. Rhumbline Advisers increased its position in shares of Geron by 4.1% during the second quarter. Rhumbline Advisers now owns 873,893 shares of the biopharmaceutical company’s stock worth $1,232,000 after purchasing an additional 34,437 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Geron by 72.3% during the second quarter. Prudential Financial Inc. now owns 79,494 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 33,352 shares in the last quarter. 73.71% of the stock is owned by hedge funds and other institutional investors.

About Geron

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.