Private Advisor Group LLC Makes New Investment in Geron Co. (NASDAQ:GERN)

Private Advisor Group LLC purchased a new position in shares of Geron Co. (NASDAQ:GERN) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 199,900 shares of the biopharmaceutical company’s stock, valued at approximately $434,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Arizona State Retirement System boosted its holdings in shares of Geron by 3.9% during the 4th quarter. Arizona State Retirement System now owns 95,950 shares of the biopharmaceutical company’s stock worth $232,000 after buying an additional 3,636 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in shares of Geron by 23.9% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 22,298 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 4,306 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Geron by 11.6% in the 1st quarter. Victory Capital Management Inc. now owns 42,120 shares of the biopharmaceutical company’s stock worth $91,000 after purchasing an additional 4,386 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Geron by 15.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 34,942 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 4,714 shares in the last quarter. Finally, Elmwood Wealth Management Inc. lifted its holdings in shares of Geron by 24.4% in the 1st quarter. Elmwood Wealth Management Inc. now owns 24,200 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 4,750 shares in the last quarter. 65.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GERN. Wedbush reiterated an “outperform” rating and issued a $6.00 target price on shares of Geron in a report on Tuesday, August 29th. Needham & Company LLC reiterated a “buy” rating and issued a $4.00 target price on shares of Geron in a report on Friday, August 4th.

Geron Trading Up 2.1 %

NASDAQ GERN opened at $2.48 on Monday. The firm has a market capitalization of $1.30 billion, a P/E ratio of -6.89 and a beta of 0.87. The business has a fifty day simple moving average of $2.94 and a 200 day simple moving average of $2.81. Geron Co. has a 12 month low of $1.95 and a 12 month high of $3.84. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.14.

Geron (NASDAQ:GERN) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Geron had a negative net margin of 38,007.78% and a negative return on equity of 84.19%. The business had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.14 million. On average, analysts predict that Geron Co. will post -0.37 EPS for the current fiscal year.

About Geron

Geron Corporation, a late-stage clinical biopharmaceutical company, focuses on the development and commercialization of therapeutics for myeloid hematologic malignancies. It develops imetelstat, a telomerase inhibitor that is in Phase 3 clinical trials, which inhibits the uncontrolled proliferation of malignant stem and progenitor cells in myeloid hematologic malignancies for the treatment of low or intermediate-1 risk myelodysplastic syndromes and intermediate-2 or high-risk myelofibrosis.