Pale Fire Capital SE Buys 418,900 Shares of Geron Corporation $GERN

Pale Fire Capital SE increased its stake in Geron Corporation (NASDAQ:GERN) by 8.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,307,204 shares of the biopharmaceutical company’s stock after purchasing an additional 418,900 shares during the quarter. Geron accounts for 0.2% of Pale Fire Capital SE’s portfolio, making the stock its 24th largest position. Pale Fire Capital SE’s holdings in Geron were worth $6,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Headlands Technologies LLC lifted its holdings in shares of Geron by 748.8% during the 2nd quarter. Headlands Technologies LLC now owns 159,533 shares of the biopharmaceutical company’s stock valued at $204,000 after buying an additional 140,738 shares during the period. Moore Capital Management LP purchased a new position in shares of Geron in the 2nd quarter worth $1,526,000. GTS Securities LLC grew its holdings in shares of Geron by 71.6% in the second quarter. GTS Securities LLC now owns 23,772 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 9,921 shares during the period. Nantahala Capital Management LLC bought a new stake in shares of Geron in the second quarter worth $15,648,000. Finally, Seven Fleet Capital Management LP increased its position in Geron by 149.2% during the second quarter. Seven Fleet Capital Management LP now owns 1,057,228 shares of the biopharmaceutical company’s stock valued at $1,353,000 after acquiring an additional 633,048 shares during the last quarter. Institutional investors own 73.71% of the company’s stock.

Geron Trading Up 7.4%

Shares of Geron stock opened at $1.59 on Thursday. Geron Corporation has a 1-year low of $1.04 and a 1-year high of $2.01. The company’s fifty day simple moving average is $1.46 and its 200-day simple moving average is $1.47. The company has a debt-to-equity ratio of 0.55, a current ratio of 6.91 and a quick ratio of 5.16. The stock has a market capitalization of $1.02 billion, a PE ratio of -14.45 and a beta of 0.61.

Geron (NASDAQ:GERN) last posted its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Geron had a negative return on equity of 24.48% and a negative net margin of 34.17%.The company had revenue of $57.48 million during the quarter, compared to analysts’ expectations of $55.30 million. As a group, equities analysts anticipate that Geron Corporation will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings raised Geron from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.00.

Geron Company Profile

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.