Point72 Asset Management L.P. Purchases New Shares in Geron Co. (NASDAQ:GERN)

Point72 Asset Management L.P. purchased a new stake in shares of Geron Co. (NASDAQ:GERN) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,488,892 shares of the biopharmaceutical company’s stock, valued at approximately $5,271,000. Point72 Asset Management L.P. owned 0.25% of Geron as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in Geron in the fourth quarter worth $28,000. Integrated Wealth Concepts LLC purchased a new stake in Geron in the fourth quarter worth $36,000. Fifth Lane Capital LP purchased a new stake in Geron in the fourth quarter worth $53,000. Harvest Investment Services LLC purchased a new stake in Geron in the fourth quarter worth $61,000. Finally, Monterey Private Wealth Inc. purchased a new stake in Geron in the fourth quarter worth $63,000. Hedge funds and other institutional investors own 73.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GERN. HC Wainwright reiterated a “neutral” rating on shares of Geron in a research note on Wednesday, March 12th. Stifel Nicolaus reduced their target price on Geron from $8.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. B. Riley downgraded Geron from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $3.50 to $2.00 in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $5.00 price target on shares of Geron in a research report on Wednesday, March 12th. Finally, Scotiabank downgraded Geron from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $4.00 to $1.50 in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.06.

Geron Price Performance

Shares of GERN stock opened at $1.39 on Tuesday. Geron Co. has a 1-year low of $1.17 and a 1-year high of $5.34. The stock’s 50-day moving average is $1.44 and its 200 day moving average is $2.59. The company has a market cap of $885.32 million, a P/E ratio of -4.34 and a beta of 0.76. 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 (NASDAQ:GERN) last issued its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Geron had a negative return on equity of 67.53% and a negative net margin of 682.48%. The company had revenue of $39.60 million for the quarter, compared to the consensus estimate of $49.88 million. During the same quarter last year, the company earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 12927.3% compared to the same quarter last year. Research analysts predict that Geron Co. will post -0.25 earnings per share for the current fiscal year.

Geron 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.