State Board of Administration of Florida Retirement System continued to hold its stake in shares of Geron Corp. (NASDAQ:GERN) during the second quarter, Holdings Channel reports. The firm owned 138,882 shares of the biopharmaceutical company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned about 0.09% of Geron Corp. worth $372,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the company. Emerald Acquisition Ltd. purchased a new stake in shares of Geron Corp. during the second quarter valued at $1,239,000. Bank of Montreal Can bought a new position in shares of Geron Corp. during the second quarter valued at approximately $108,000. Creative Planning raised its position in shares of Geron Corp. by 3.5% in the second quarter. Creative Planning now owns 59,700 shares of the biopharmaceutical company’s stock valued at $160,000 after buying an additional 2,000 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of Geron Corp. by 32.9% in the first quarter. Panagora Asset Management Inc. now owns 1,823,587 shares of the biopharmaceutical company’s stock valued at $5,325,000 after buying an additional 451,440 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Geron Corp. by 0.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 113,715 shares of the biopharmaceutical company’s stock valued at $332,000 after buying an additional 839 shares in the last quarter. 38.09% of the stock is currently owned by institutional investors and hedge funds.
Geron Corp. (NASDAQ:GERN) remained flat at $2.40 during trading on Tuesday. 410,478 shares of the company’s stock were exchanged. Geron Corp. has a 12 month low of $1.84 and a 12 month high of $5.30. The firm has a market cap of $381.93 million, a PE ratio of 300.00 and a beta of 2.63. The firm’s 50-day moving average price is $2.43 and its 200 day moving average price is $2.73.
Geron Corp. (NASDAQ:GERN) last announced its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. The firm earned $0.21 million during the quarter, compared to the consensus estimate of $0.38 million. Geron Corp. had a return on equity of 0.89% and a net margin of 3.39%. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.06) EPS. On average, analysts expect that Geron Corp. will post ($0.23) earnings per share for the current fiscal year.
Several equities analysts have commented on GERN shares. FBR & Co reiterated an “outperform” rating and issued a $5.00 price target on shares of Geron Corp. in a research note on Thursday, September 22nd. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $5.00 price target (down from $10.00) on shares of Geron Corp. in a research note on Tuesday, September 13th. BTIG Research started coverage on shares of Geron Corp. in a research note on Friday, August 19th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research upgraded shares of Geron Corp. from a “hold” rating to a “strong-buy” rating and set a $3.00 price target on the stock in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Geron Corp. has a consensus rating of “Buy” and a consensus target price of $5.00.
Geron Corp. Company Profile
Geron Corporation (Geron) is a biopharmaceutical company, which supports the clinical stage development of a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies by Janssen Biotech, Inc (Janssen). The Company operates through the segment, which includes discovery and development of therapeutic products for oncology.
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