Allspring Global Investments Holdings LLC Sells 18,849 Shares of Geron Co. (NASDAQ:GERN)

Allspring Global Investments Holdings LLC lessened its stake in shares of Geron Co. (NASDAQ:GERN) by 6.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,659 shares of the biopharmaceutical company’s stock after selling 18,849 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of Geron worth $914,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cerity Partners LLC acquired a new stake in shares of Geron in the 4th quarter worth about $26,000. CIBC Asset Management Inc acquired a new stake in shares of Geron in the 4th quarter worth about $27,000. Nisa Investment Advisors LLC raised its holdings in shares of Geron by 117.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 11,420 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 6,180 shares during the last quarter. American Trust acquired a new stake in shares of Geron in the 1st quarter worth about $27,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Geron in the 4th quarter worth about $45,000. Institutional investors own 65.44% of the company’s stock.

Geron Trading Down 3.1 %

Shares of GERN stock opened at $1.85 on Thursday. The company has a 50 day moving average of $2.04 and a 200-day moving average of $2.66. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.10. Geron Co. has a 12-month low of $1.73 and a 12-month high of $3.84. The firm has a market cap of $1.00 billion, a P/E ratio of -5.14 and a beta of 0.82.

Wall Street Analyst Weigh In

Several research firms have commented on GERN. Needham & Company LLC reiterated a “buy” rating and issued a $4.00 price objective on shares of Geron in a research note on Friday, August 4th. The Goldman Sachs Group upgraded shares of Geron from a “neutral” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Tuesday, September 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $6.00 price objective on shares of Geron in a research note on Tuesday, August 29th.

Geron Profile

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.