Geron (NASDAQ:GERN) Stock Price Up 7.3% – Here’s What Happened

Geron Corporation (NASDAQ:GERN)’s share price traded up 7.3% during mid-day trading on Tuesday . The stock traded as high as $1.7493 and last traded at $1.77. 4,063,418 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 12,097,776 shares. The stock had previously closed at $1.65.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Needham & Company LLC cut their price target on shares of Geron from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. UBS Group reiterated a “neutral” rating on shares of Geron in a report on Tuesday, December 9th. HC Wainwright reissued a “neutral” rating on shares of Geron in a research note on Tuesday, December 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Geron in a report on Wednesday, January 28th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Geron in a research report on Thursday, January 29th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Geron currently has a consensus rating of “Hold” and a consensus price target of $2.75.

Geron Stock Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.87 and a current ratio of 5.96. The business’s 50-day moving average is $1.39 and its 200-day moving average is $1.32. The company has a market capitalization of $1.15 billion, a PE ratio of -15.00 and a beta of 0.62.

Institutional Investors Weigh In On Geron

A number of institutional investors have recently modified their holdings of GERN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Geron by 2.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 392,534 shares of the biopharmaceutical company’s stock worth $627,000 after purchasing an additional 8,123 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Geron by 8.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,372,016 shares of the biopharmaceutical company’s stock worth $2,182,000 after buying an additional 104,840 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Geron by 204.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,238 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 22,993 shares during the last quarter. Savant Capital LLC increased its position in shares of Geron by 73.8% during the second quarter. Savant Capital LLC now owns 26,074 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 11,074 shares in the last quarter. Finally, Nan Fung Trinity HK Ltd. purchased a new stake in Geron during the 2nd quarter valued at $1,937,000. 73.71% of the stock is owned by hedge funds and other institutional investors.

Geron Company Profile

Geron Corporation (NASDAQ: GERN) is a clinical-stage biotechnology company dedicated to developing and commercializing novel treatments that target telomerase, an enzyme critical to cancer cell immortality. The company’s research is focused on hematologic malignancies and solid tumors, with a pipeline designed to address diseases that have historically had limited therapeutic options.

The lead product candidate, imetelstat, is a first-in-class telomerase inhibitor currently in Phase II and Phase III clinical trials for myelofibrosis and myelodysplastic syndromes.