Geron Co. (NASDAQ:GERN) Short Interest Down 8.0% in November

Geron Co. (NASDAQ:GERN) was the recipient of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 70,130,000 shares, a drop of 8.0% from the October 31st total of 76,240,000 shares. Based on an average trading volume of 8,570,000 shares, the short-interest ratio is currently 8.2 days.

Geron Trading Down 1.9 %

Shares of GERN traded down $0.08 during trading hours on Monday, hitting $4.04. The company had a trading volume of 4,252,896 shares, compared to its average volume of 10,321,151. The firm has a market cap of $2.44 billion, a P/E ratio of -12.59 and a beta of 0.52. The stock’s 50 day moving average price is $4.16 and its 200 day moving average price is $4.33. The company has a quick ratio of 2.74, a current ratio of 2.89 and a debt-to-equity ratio of 0.04. Geron has a 52-week low of $1.64 and a 52-week high of $5.34.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GERN. National Bank of Canada FI boosted its position 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 in the last quarter. Readystate Asset Management LP bought a new stake in Geron during the 3rd quarter valued at approximately $58,000. Rovin Capital UT ADV bought a new stake in Geron during the 3rd quarter valued at approximately $62,000. Empowered Funds LLC bought a new stake in Geron during the 3rd quarter valued at approximately $67,000. Finally, Inspire Advisors LLC bought a new stake in Geron during the 3rd quarter valued at approximately $68,000. Hedge funds and other institutional investors own 73.71% of the company’s stock.

Wall Street Analysts Forecast Growth

GERN has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price target on shares of Geron in a report on Friday, August 9th. Wedbush reissued an “outperform” rating and set a $8.00 price objective on shares of Geron in a research note on Thursday, August 8th. Leerink Partnrs raised Geron to a “strong-buy” rating in a research note on Monday, September 9th. HC Wainwright started coverage on Geron in a research note on Tuesday, November 5th. They set a “buy” rating and a $8.00 price objective for the company. Finally, Scotiabank started coverage on Geron in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $6.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.05.

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.