Geron (NASDAQ:GERN) Stock Price Down 4.7% – What’s Next?

Geron Corporation (NASDAQ:GERN)’s share price traded down 4.7% on Thursday . The company traded as low as $1.51 and last traded at $1.5150. Approximately 7,599,703 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 14,445,697 shares. The stock had previously closed at $1.59.

Wall Street Analyst Weigh In

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

Geron Price Performance

The stock has a 50-day simple moving average of $1.46 and a 200 day simple moving average of $1.47. The stock has a market capitalization of $973.35 million, a P/E ratio of -13.77 and a beta of 0.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 5.16 and a current ratio of 6.91.

Geron (NASDAQ:GERN) last posted its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $57.48 million for the quarter, compared to analyst estimates of $55.30 million. On average, equities analysts forecast that Geron Corporation will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Geron

A number of institutional investors have recently modified their holdings of GERN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Geron by 2.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 392,534 shares of the biopharmaceutical company’s stock worth $627,000 after buying an additional 8,123 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Geron by 8.3% in the 1st 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 valued at $2,182,000 after buying an additional 104,840 shares during the last quarter. Legal & General Group Plc grew its position in shares of Geron by 8.3% during the 2nd 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 in the last quarter. Rhumbline Advisers lifted its stake in shares of Geron by 4.1% in the second quarter. Rhumbline Advisers now owns 873,893 shares of the biopharmaceutical company’s stock worth $1,232,000 after acquiring an additional 34,437 shares during the period. Finally, Prudential Financial Inc. grew its position in Geron by 72.3% in the 2nd 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 currently 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.