Moore Capital Management LP Purchases New Holdings in Geron Corporation $GERN

Moore Capital Management LP acquired a new stake in shares of Geron Corporation (NASDAQ:GERN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,191,941 shares of the biopharmaceutical company’s stock, valued at approximately $1,526,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GERN. Hsbc Holdings PLC purchased a new position in shares of Geron during the 2nd quarter valued at approximately $25,000. GTS Securities LLC raised its holdings in Geron by 71.6% in the second quarter. GTS Securities LLC now owns 23,772 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 9,921 shares in the last quarter. Vistica Wealth Advisors LLC bought a new position in Geron during the 4th quarter valued at $33,000. Caitong International Asset Management Co. Ltd boosted its stake in Geron by 3,307.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 25,148 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 24,410 shares during the last quarter. Finally, Amundi acquired a new position in Geron during the 4th quarter worth $38,000. 73.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Geron from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Geron currently has an average rating of “Hold” and a consensus target price of $4.00.

Geron Stock Down 1.3%

Shares of Geron stock opened at $1.49 on Tuesday. The stock has a market capitalization of $957.28 million, a price-to-earnings ratio of -13.55 and a beta of 0.61. Geron Corporation has a twelve month low of $1.04 and a twelve month high of $2.01. The company has a current ratio of 6.91, a quick ratio of 5.16 and a debt-to-equity ratio of 0.55. The business’s 50 day simple moving average is $1.45 and its 200-day simple moving average is $1.48.

Geron (NASDAQ:GERN) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The company had revenue of $57.48 million for the quarter, compared to analyst estimates of $55.30 million. Geron had a negative net margin of 34.17% and a negative return on equity of 24.48%. Equities research analysts forecast that Geron Corporation will post -0.04 earnings per share for the current year.

Geron 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.