Geron (NASDAQ:GERN) Stock Price Down 7.9%

Posted by Defense World Staff on Mar 19th, 2023

Shares of Geron Co. (NASDAQ:GERN – Get Rating) traded down 7.9% during trading on Friday . The company traded as low as $2.40 and last traded at $2.44. 2,562,809 shares changed hands during trading, a decline of 73% from the average session volume of 9,491,942 shares. The stock had previously closed at $2.65.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wedbush restated an “outperform” rating and set a $6.00 price objective on shares of Geron in a research report on Friday. Needham & Company LLC reissued a “buy” rating and set a $4.00 price target on shares of Geron in a research report on Friday. B. Riley lifted their target price on shares of Geron from $4.00 to $5.00 in a report on Monday, January 9th. Finally, StockNews.com began coverage on shares of Geron in a research note on Friday. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Geron currently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Geron Stock Down 4.5 %

The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.35. The company’s 50-day simple moving average is $2.97 and its 200 day simple moving average is $2.56.

Geron (NASDAQ:GERN – Get Rating) last released its quarterly earnings results on Thursday, March 16th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Geron had a negative net margin of 8,563.80% and a negative return on equity of 110.76%. The firm had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.12 million. During the same quarter last year, the company earned ($0.10) EPS. Analysts predict that Geron Co. will post -0.36 earnings per share for the current year.

Insider Activity at Geron

In other Geron news, COO Andrew J. Grethlein sold 384,719 shares of Geron stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $3.03, for a total value of $1,165,698.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Geron news, CFO Olivia Kyusuk Bloom sold 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $3.08, for a total value of $1,232,000.00. Following the completion of the sale, the chief financial officer now owns 74,588 shares in the company, valued at $229,731.04. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Andrew J. Grethlein sold 384,719 shares of the company’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $3.03, for a total value of $1,165,698.57. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,231,385 shares of company stock worth $3,751,097. Company insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. OmniStar Financial Group Inc. acquired a new stake in Geron in the third quarter valued at $25,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Geron in the 4th quarter worth about $25,000. Cerity Partners LLC purchased a new stake in shares of Geron during the 4th quarter valued at about $26,000. CIBC Asset Management Inc purchased a new stake in shares of Geron during the 4th quarter valued at about $27,000. Finally, Lido Advisors LLC purchased a new stake in shares of Geron during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 49.75% of the company’s stock.

Geron Company Profile

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Geron Corp. operates as a biotechnology company. It develops a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies. The firm develops therapeutic products for oncology. The company was founded by Michael D. West on November 28, 1990 and is headquartered in Foster City, CA.