Tri Locum Partners LP Invests $8.75 Million in Geron Co. (NASDAQ:GERN)

Tri Locum Partners LP bought a new stake in Geron Co. (NASDAQ:GERN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,472,836 shares of the biopharmaceutical company’s stock, valued at approximately $8,754,000. Geron accounts for about 1.8% of Tri Locum Partners LP’s investment portfolio, making the stock its 21st biggest holding. Tri Locum Partners LP owned approximately 0.41% of Geron as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in Geron in the fourth quarter valued at approximately $28,000. Integrated Wealth Concepts LLC acquired a new position in shares of Geron during the 4th quarter worth approximately $36,000. Rovin Capital UT ADV raised its stake in Geron by 26.9% in the 4th quarter. Rovin Capital UT ADV now owns 17,270 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 3,660 shares during the period. Harvest Investment Services LLC acquired a new stake in Geron during the 4th quarter valued at $61,000. Finally, Monterey Private Wealth Inc. bought a new position in Geron during the fourth quarter worth $63,000. 73.71% of the stock is currently owned by institutional investors and hedge funds.

Geron Price Performance

Shares of NASDAQ GERN opened at $1.42 on Friday. The business has a fifty day moving average price of $1.64 and a two-hundred day moving average price of $2.92. The stock has a market capitalization of $904.42 million, a PE ratio of -4.44 and a beta of 0.66. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 2.74. Geron Co. has a fifty-two week low of $1.17 and a fifty-two week high of $5.34.

Geron (NASDAQ:GERN) last issued its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). Geron had a negative return on equity of 67.53% and a negative net margin of 682.48%. The company had revenue of $47.54 million for the quarter, compared to analysts’ expectations of $45.29 million. As a group, equities analysts predict that Geron Co. will post -0.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GERN has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective on shares of Geron from $8.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. HC Wainwright reissued a “neutral” rating on shares of Geron in a report on Wednesday, March 12th. Scotiabank reduced their price objective on Geron from $6.00 to $4.00 and set a “sector outperform” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $5.00 target price on shares of Geron in a research note on Wednesday, March 12th. Finally, Barclays reissued an “overweight” rating and set a $4.00 price target (down from $9.00) on shares of Geron in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.75.

Geron Company Profile

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.