Cambridge Investment Research Advisors Inc. Cuts Stock Position in Geron Corporation (NASDAQ:GERN)

Cambridge Investment Research Advisors Inc. lowered its position in Geron Corporation (NASDAQ:GERN) by 7.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 163,990 shares of the biopharmaceutical company’s stock after selling 12,500 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Geron were worth $261,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Xponance Inc. grew its position in shares of Geron by 12.9% in the 4th quarter. Xponance Inc. now owns 42,401 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 4,829 shares during the last quarter. HighTower Advisors LLC grew its position in Geron by 33.1% during the 4th quarter. HighTower Advisors LLC now owns 36,041 shares of the biopharmaceutical company’s stock worth $128,000 after purchasing an additional 8,967 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Geron by 38.9% in the 4th quarter. Bank of Montreal Can now owns 33,147 shares of the biopharmaceutical company’s stock valued at $117,000 after acquiring an additional 9,277 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Geron in the 4th quarter valued at $36,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Geron by 3.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384,411 shares of the biopharmaceutical company’s stock valued at $1,354,000 after acquiring an additional 11,652 shares during the last quarter. Hedge funds and other institutional investors own 73.71% of the company’s stock.

Geron Price Performance

Shares of NASDAQ GERN opened at $1.32 on Friday. The firm has a market capitalization of $840.73 million, a P/E ratio of -6.29 and a beta of 0.64. Geron Corporation has a one year low of $1.17 and a one year high of $5.06. The company’s fifty day moving average is $1.43 and its two-hundred day moving average is $1.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.97 and a current ratio of 7.87.

Geron (NASDAQ:GERN) last issued its earnings results on Wednesday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $39.60 million for the quarter, compared to analyst estimates of $49.88 million. Geron had a negative net margin of 119.54% and a negative return on equity of 47.86%. The business’s revenue was up 12927.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) EPS. Analysts forecast that Geron Corporation will post -0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GERN has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on shares of Geron in a research note on Thursday. They issued a “sell” rating and a $1.00 target price for the company. Scotiabank lowered shares of Geron from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $4.00 to $1.50 in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Geron has an average rating of “Hold” and a consensus price target of $4.61.

Geron Company 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.