Eversept Partners LP Increases Stock Position in Geron Corporation $GERN

Eversept Partners LP lifted its holdings in shares of Geron Corporation (NASDAQ:GERN) by 40.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,659,983 shares of the biopharmaceutical company’s stock after acquiring an additional 5,060,981 shares during the period. Geron accounts for about 1.2% of Eversept Partners LP’s holdings, making the stock its 19th biggest position. Eversept Partners LP’s holdings in Geron were worth $23,311,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Abel Hall LLC purchased a new position in shares of Geron during the fourth quarter worth approximately $58,000. RA Capital Management L.P. grew its position in shares of Geron by 5.6% during the fourth quarter. RA Capital Management L.P. now owns 63,771,366 shares of the biopharmaceutical company’s stock worth $84,178,000 after acquiring an additional 3,392,000 shares during the last quarter. Amundi purchased a new position in shares of Geron during the fourth quarter worth approximately $38,000. Price T Rowe Associates Inc. MD grew its position in shares of Geron by 8.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 312,027 shares of the biopharmaceutical company’s stock worth $412,000 after acquiring an additional 23,189 shares during the last quarter. Finally, Atom Investors LP grew its position in shares of Geron by 137.0% during the fourth quarter. Atom Investors LP now owns 37,341 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 21,588 shares during the last quarter. 73.71% of the stock is currently owned by hedge funds and other institutional investors.

Geron Price Performance

Shares of NASDAQ GERN opened at $1.23 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 6.78 and a quick ratio of 4.96. The stock has a fifty day moving average price of $1.40 and a 200 day moving average price of $1.44. Geron Corporation has a 1-year low of $1.04 and a 1-year high of $2.01. The company has a market cap of $789.07 million, a PE ratio of -11.18 and a beta of 0.60.

Geron (NASDAQ:GERN) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. Geron had a negative return on equity of 23.31% and a negative net margin of 35.48%.The firm had revenue of $51.84 million during the quarter, compared to the consensus estimate of $50.59 million. Sell-side analysts forecast that Geron Corporation will post -0.02 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Geron from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Geron has a consensus rating of “Hold” and an average price target of $2.50.

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.