Monterey Private Wealth Inc. Takes Position in Geron Co. (NASDAQ:GERN)

Monterey Private Wealth Inc. acquired a new position in Geron Co. (NASDAQ:GERN) in the 4th quarter, Holdings Channel reports. The firm acquired 17,700 shares of the biopharmaceutical company’s stock, valued at approximately $63,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its holdings in shares of Geron by 135.1% during the 2nd quarter. Victory Capital Management Inc. now owns 138,555 shares of the biopharmaceutical company’s stock worth $587,000 after purchasing an additional 79,621 shares during the period. Renaissance Technologies LLC purchased a new position in Geron during the second quarter worth about $3,315,000. Hsbc Holdings PLC increased its position in shares of Geron by 29.5% during the second quarter. Hsbc Holdings PLC now owns 69,405 shares of the biopharmaceutical company’s stock valued at $297,000 after acquiring an additional 15,829 shares during the last quarter. Sei Investments Co. raised its stake in shares of Geron by 55.1% in the 2nd quarter. Sei Investments Co. now owns 153,678 shares of the biopharmaceutical company’s stock valued at $652,000 after acquiring an additional 54,609 shares during the period. Finally, Xponance Inc. lifted its holdings in shares of Geron by 18.5% in the 2nd quarter. Xponance Inc. now owns 36,473 shares of the biopharmaceutical company’s stock worth $155,000 after acquiring an additional 5,689 shares during the last quarter. Institutional investors and hedge funds own 73.71% of the company’s stock.

Geron Trading Down 1.0 %

GERN stock opened at $2.89 on Tuesday. The business’s 50-day moving average is $3.65 and its two-hundred day moving average is $4.16. The company has a quick ratio of 2.74, a current ratio of 2.89 and a debt-to-equity ratio of 0.04. Geron Co. has a 1 year low of $1.64 and a 1 year high of $5.34.

Geron (NASDAQ:GERN) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.05. Geron had a negative net margin of 682.48% and a negative return on equity of 67.53%. The firm had revenue of $28.27 million for the quarter, compared to analysts’ expectations of $18.97 million. During the same quarter last year, the company earned ($0.08) earnings per share. The firm’s revenue was up 17138.4% compared to the same quarter last year. On average, equities research analysts anticipate that Geron Co. will post -0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on GERN shares. Barclays upgraded shares of Geron to a “strong-buy” rating in a report on Friday, November 29th. Needham & Company LLC lifted their price objective on Geron from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Scotiabank began coverage on Geron in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $6.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Geron in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.25.

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.