Geron (NASDAQ:GERN) Shares Gap Up to $3.13

Posted by Scott Davis on May 26th, 2023

Geron Co. (NASDAQ:GERN – Get Rating) shares gapped up before the market opened on Friday . The stock had previously closed at $3.13, but opened at $3.26. Geron shares last traded at $3.36, with a volume of 2,649,576 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently commented on GERN shares. The Goldman Sachs Group started coverage on Geron in a research note on Monday, March 27th. They set a “neutral” rating and a $3.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price objective on shares of Geron in a research note on Friday, April 21st. StockNews.com initiated coverage on Geron in a research note on Friday, March 17th. They set a “sell” rating on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $6.00 price target on shares of Geron in a research note on Friday, March 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Geron presently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Geron Trading Up 10.2 %

The business has a 50 day simple moving average of $2.50 and a 200-day simple moving average of $2.59. The company has a current ratio of 8.81, a quick ratio of 8.81 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -9.94 and a beta of 0.92.

Geron (NASDAQ:GERN – Get Rating) last released its quarterly earnings data on Thursday, May 11th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.02. The business had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.14 million. Geron had a negative return on equity of 91.38% and a negative net margin of 30,349.19%. During the same period in the previous year, the company posted ($0.09) EPS. On average, equities analysts predict that Geron Co. will post -0.36 earnings per share for the current year.

Insider Activity at Geron

In other Geron news, Director Susan Molineaux sold 35,000 shares of Geron stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $2.48, for a total transaction of $86,800.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Geron

Institutional investors and hedge funds have recently made changes to their positions in the company. Lido Advisors LLC acquired a new stake in shares of Geron during the 3rd quarter valued at approximately $35,000. Belpointe Asset Management LLC bought a new position in Geron during the 4th quarter worth $231,000. Parsec Financial Management Inc. bought a new position in Geron during the 4th quarter worth $42,000. Matisse Capital grew its stake in Geron by 37.5% during the 3rd quarter. Matisse Capital now owns 110,000 shares of the biopharmaceutical company’s stock worth $257,000 after buying an additional 30,000 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new position in Geron during the 3rd quarter worth $742,000. 49.75% of the stock is owned by institutional investors and hedge funds.

Geron Company Profile

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Geron Corp. operates as a biotechnology company. It develops a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies. The firm develops therapeutic products for oncology. The company was founded by Michael D. West on November 28, 1990 and is headquartered in Foster City, CA.