Summit X LLC Lowers Stake in Geron Corporation $GERN

Summit X LLC cut its stake in Geron Corporation (NASDAQ:GERN) by 9.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 494,789 shares of the biopharmaceutical company’s stock after selling 53,110 shares during the period. Summit X LLC’s holdings in Geron were worth $698,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GERN. Private Advisor Group LLC boosted its holdings in shares of Geron by 78.5% in the 1st quarter. Private Advisor Group LLC now owns 338,597 shares of the biopharmaceutical company’s stock worth $538,000 after purchasing an additional 148,949 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Geron in the first quarter worth approximately $63,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Geron by 13.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 170,441 shares of the biopharmaceutical company’s stock valued at $271,000 after acquiring an additional 20,133 shares during the last quarter. Kazazian Asset Management LLC purchased a new position in shares of Geron during the first quarter worth approximately $76,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Geron by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 34,146,851 shares of the biopharmaceutical company’s stock worth $54,293,000 after acquiring an additional 608,029 shares during the last quarter. Hedge funds and other institutional investors own 73.71% of the company’s stock.

Geron Stock Down 0.9%

NASDAQ GERN opened at $1.07 on Friday. Geron Corporation has a 1 year low of $1.04 and a 1 year high of $4.33. The stock has a market capitalization of $682.68 million, a PE ratio of -8.23 and a beta of 0.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 7.87 and a quick ratio of 6.79. The business’s 50-day moving average is $1.29 and its 200 day moving average is $1.35.

Geron (NASDAQ:GERN) last released its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $47.23 million during the quarter, compared to analysts’ expectations of $55.24 million. Geron had a negative return on equity of 31.37% and a negative net margin of 53.52%. Sell-side analysts forecast that Geron Corporation will post -0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Needham & Company LLC reduced their target price on shares of Geron from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Geron in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Geron presently has an average rating of “Hold” and a consensus price target of $3.64.

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.