Geron (NASDAQ:GERN) Stock Price Passes Above 200-Day Moving Average of $2.57

Geron Co. (NASDAQ:GERN)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.57 and traded as high as $3.54. Geron shares last traded at $3.48, with a volume of 6,996,979 shares changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on GERN. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of Geron in a research note on Thursday, May 2nd. Robert W. Baird lowered shares of Geron from an “outperform” rating to a “neutral” rating and set a $4.50 price target on the stock. in a research report on Tuesday, April 30th. Wedbush restated an “outperform” rating and set a $6.00 price objective on shares of Geron in a research report on Wednesday, April 10th. TD Cowen assumed coverage on Geron in a report on Monday, April 29th. They set a “buy” rating and a $10.00 target price on the stock. Finally, The Goldman Sachs Group boosted their price target on Geron from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, March 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.10.

Geron Stock Performance

The stock has a 50-day moving average price of $3.58 and a 200 day moving average price of $2.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.67 and a quick ratio of 3.67. The firm has a market cap of $2.06 billion, a PE ratio of -9.94 and a beta of 0.55.

Geron (NASDAQ:GERN) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $0.30 million during the quarter, compared to the consensus estimate of $0.15 million. Geron had a negative net margin of 38,730.00% and a negative return on equity of 68.16%. Research analysts forecast that Geron Co. will post -0.35 earnings per share for the current year.

Hedge Funds Weigh In On Geron

Hedge funds and other institutional investors have recently modified their holdings of the company. RA Capital Management L.P. lifted its position in Geron by 46.5% during the 3rd quarter. RA Capital Management L.P. now owns 46,202,425 shares of the biopharmaceutical company’s stock worth $97,949,000 after acquiring an additional 14,657,619 shares in the last quarter. Vivo Capital LLC lifted its position in shares of Geron by 46.1% during the fourth quarter. Vivo Capital LLC now owns 24,143,681 shares of the biopharmaceutical company’s stock worth $50,943,000 after purchasing an additional 7,619,047 shares in the last quarter. Farallon Capital Management LLC purchased a new position in shares of Geron in the first quarter valued at $24,734,000. Affinity Asset Advisors LLC acquired a new stake in Geron during the 1st quarter valued at $8,250,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Geron by 172.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,634,330 shares of the biopharmaceutical company’s stock worth $7,705,000 after buying an additional 2,300,220 shares during the period. 73.71% of the stock is owned by institutional investors and hedge funds.

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.