John A. Scarlett Sells 600,000 Shares of Geron Co. (NASDAQ:GERN) Stock

Geron Co. (NASDAQ:GERNGet Free Report) CEO John A. Scarlett sold 600,000 shares of Geron stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $4.00, for a total transaction of $2,400,000.00. Following the completion of the sale, the chief executive officer now directly owns 600,000 shares in the company, valued at approximately $2,400,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Geron Stock Performance

Shares of GERN stock opened at $3.89 on Friday. The stock has a fifty day moving average price of $3.63 and a 200 day moving average price of $2.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.67 and a current ratio of 3.67. The stock has a market cap of $2.31 billion, a PE ratio of -11.11 and a beta of 0.43. Geron Co. has a 1 year low of $1.64 and a 1 year high of $4.30.

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

Institutional Trading of Geron

Several large investors have recently modified their holdings of GERN. Teachers Retirement System of The State of Kentucky increased its stake in shares of Geron by 23.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 305,347 shares of the biopharmaceutical company’s stock worth $1,008,000 after purchasing an additional 58,787 shares in the last quarter. Farallon Capital Management LLC acquired a new stake in Geron during the 1st quarter valued at $24,734,000. Artal Group S.A. purchased a new position in Geron during the first quarter worth $4,228,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Geron by 999.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,064,963 shares of the biopharmaceutical company’s stock worth $6,815,000 after acquiring an additional 1,877,184 shares during the last quarter. Finally, Altitude Crest Partners Inc. purchased a new stake in shares of Geron in the first quarter valued at $5,054,000. 73.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GERN shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Geron in a report on Thursday, May 2nd. TD Cowen started coverage on Geron in a report on Monday, April 29th. They set a “buy” rating and a $10.00 price objective on the stock. Robert W. Baird cut Geron from an “outperform” rating to a “neutral” rating and set a $4.50 price objective for the company. in a research report on Tuesday, April 30th. Wedbush restated an “outperform” rating and set a $6.00 target price on shares of Geron in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group increased their price target on shares of Geron from $4.00 to $5.00 and gave the company a “buy” rating in a report on Friday, March 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.10.

Check Out Our Latest Research Report on Geron

About Geron

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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.

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