Geron (NASDAQ:GERN) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Geron Corporation (NASDAQ:GERN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.37 and traded as high as $1.63. Geron shares last traded at $1.58, with a volume of 13,660,745 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GERN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Geron in a research note on Wednesday, January 28th. HC Wainwright reissued a “neutral” rating on shares of Geron in a research note on Tuesday, December 9th. TD Cowen restated a “buy” rating on shares of Geron in a research report on Thursday, January 29th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Geron in a report on Tuesday, December 9th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.17.

Geron Stock Down 1.3%

The stock has a market cap of $1.01 billion, a PE ratio of -12.15 and a beta of 0.58. The company has a quick ratio of 3.62, a current ratio of 4.66 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average of $1.52 and a 200 day moving average of $1.37.

Geron (NASDAQ:GERN) last posted its earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The business had revenue of $48.02 million for the quarter, compared to analysts’ expectations of $50.43 million. Geron had a negative return on equity of 28.86% and a negative net margin of 46.65%. On average, equities research analysts anticipate that Geron Corporation will post -0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Geron

Hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its position in shares of Geron by 5,092.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 38,319 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 37,581 shares during the period. Seven Fleet Capital Management LP purchased a new stake in Geron in the fourth quarter valued at approximately $1,027,000. Virtu Financial LLC acquired a new stake in shares of Geron in the fourth quarter valued at approximately $171,000. Invesco Ltd. grew its position in shares of Geron by 27.6% during the fourth quarter. Invesco Ltd. now owns 1,225,658 shares of the biopharmaceutical company’s stock worth $1,618,000 after acquiring an additional 265,197 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in Geron by 104.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 91,619 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 46,801 shares during the last quarter. Hedge funds and other institutional investors own 73.71% of the company’s stock.

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.