Eventide Asset Management LLC Buys 715,818 Shares of Geron Co. (NASDAQ:GERN)

Eventide Asset Management LLC raised its stake in shares of Geron Co. (NASDAQ:GERN) by 11.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,072,000 shares of the biopharmaceutical company’s stock after acquiring an additional 715,818 shares during the period. Eventide Asset Management LLC’s holdings in Geron were worth $32,107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GERN. National Bank of Canada FI lifted its stake in Geron by 1,200.0% during the 2nd quarter. National Bank of Canada FI now owns 6,500 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 6,000 shares during the period. American Trust bought a new position in Geron during the 1st quarter valued at about $38,000. Rovin Capital UT ADV bought a new position in Geron during the 3rd quarter valued at about $62,000. CIBC Asset Management Inc lifted its stake in shares of Geron by 32.7% in the 2nd quarter. CIBC Asset Management Inc now owns 15,438 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 3,805 shares during the period. Finally, Csenge Advisory Group bought a new position in shares of Geron in the 2nd quarter worth approximately $66,000. Institutional investors own 73.71% of the company’s stock.

Analyst Upgrades and Downgrades

GERN has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price objective on shares of Geron in a research note on Friday, August 9th. Leerink Partnrs upgraded shares of Geron to a “strong-buy” rating in a research note on Monday, September 9th. Wedbush reaffirmed an “outperform” rating and set a $8.00 price target on shares of Geron in a report on Thursday, August 8th. HC Wainwright started coverage on shares of Geron in a research note on Tuesday, November 5th. They issued a “buy” rating and a $8.00 price objective for the company. Finally, StockNews.com upgraded shares of Geron to a “sell” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $7.05.

Geron Price Performance

NASDAQ:GERN opened at $4.17 on Friday. The business’s 50-day moving average is $4.18 and its 200 day moving average is $4.32. Geron Co. has a 12 month low of $1.64 and a 12 month high of $5.34. The company has a market capitalization of $2.52 billion, a P/E ratio of -13.03 and a beta of 0.52. The company has a current ratio of 2.89, a quick ratio of 2.74 and a debt-to-equity ratio of 0.04.

Geron (NASDAQ:GERN) last released its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.05. The business had revenue of $28.27 million during the quarter, compared to analyst estimates of $18.97 million. Geron had a negative net margin of 682.48% and a negative return on equity of 67.53%. Geron’s quarterly revenue was up 17138.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.08) earnings per share. On average, equities research analysts forecast that Geron Co. will post -0.25 earnings per share 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.