Geode Capital Management LLC increased its stake in Geron Corporation (NASDAQ:GERN) by 11.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,212,214 shares of the biopharmaceutical company’s stock after buying an additional 120,222 shares during the period. Geode Capital Management LLC owned 0.76% of Geron Corporation worth $2,751,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Geron Corporation by 7.6% in the first quarter. Vanguard Group Inc. now owns 7,112,183 shares of the biopharmaceutical company’s stock valued at $16,145,000 after buying an additional 502,485 shares during the last quarter. American International Group Inc. boosted its stake in Geron Corporation by 7.1% in the first quarter. American International Group Inc. now owns 92,964 shares of the biopharmaceutical company’s stock valued at $211,000 after buying an additional 6,140 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Geron Corporation by 31.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 57,056 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 13,500 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Geron Corporation by 91.9% in the first quarter. UBS Asset Management Americas Inc. now owns 105,125 shares of the biopharmaceutical company’s stock valued at $239,000 after buying an additional 50,334 shares during the period. Finally, Creative Planning boosted its stake in Geron Corporation by 17.9% in the first quarter. Creative Planning now owns 101,868 shares of the biopharmaceutical company’s stock valued at $231,000 after buying an additional 15,500 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.
Geron Corporation (GERN) remained flat at $2.02 during midday trading on Wednesday. The company had a trading volume of 257,504 shares. The firm’s market cap is $321.61 million. The stock’s 50-day moving average is $2.54 and its 200-day moving average is $2.48. Geron Corporation has a 12-month low of $1.81 and a 12-month high of $3.15.
Geron Corporation (NASDAQ:GERN) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Geron Corporation had a negative net margin of 433.72% and a negative return on equity of 21.30%. The firm had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.38 million. During the same quarter last year, the firm earned ($0.05) EPS. The firm’s revenue for the quarter was down 19.0% on a year-over-year basis. Analysts predict that Geron Corporation will post ($0.18) earnings per share for the current year.
WARNING: This article was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://stocknewstimes.com/2017/08/23/geode-capital-management-llc-buys-120222-shares-of-geron-corporation-gern.html.
Several equities research analysts have weighed in on GERN shares. Zacks Investment Research upgraded Geron Corporation from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a report on Thursday, June 15th. BidaskClub cut Geron Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, FBR & Co reiterated a “buy” rating on shares of Geron Corporation in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Geron Corporation currently has a consensus rating of “Hold” and a consensus price target of $3.88.
Geron Corporation 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 is engaged in the development of therapeutic products for oncology. Using its nucleic acid chemistry, Geron designed Imetelstat to be an oligonucleotide that binds with high affinity to the ribonucleic acid (RNA) template of telomerase, thereby directly inhibiting telomerase activity.
Receive News & Ratings for Geron Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Geron Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
