Blue Owl Capital Holdings LP Takes $101,000 Position in Geron Co. (NASDAQ:GERN)

Blue Owl Capital Holdings LP purchased a new stake in shares of Geron Co. (NASDAQ:GERN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 23,918 shares of the biopharmaceutical company’s stock, valued at approximately $101,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. National Bank of Canada FI grew its holdings in shares of Geron by 1,200.0% during the second quarter. National Bank of Canada FI now owns 6,500 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 6,000 shares during the last quarter. Crewe Advisors LLC grew its stake in Geron by 870.0% during the first quarter. Crewe Advisors LLC now owns 9,700 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 8,700 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in Geron during the first quarter valued at $34,000. American Trust purchased a new position in Geron during the first quarter valued at $38,000. Finally, CIBC Asset Management Inc grew its stake in shares of Geron by 32.7% in the 2nd quarter. CIBC Asset Management Inc now owns 15,438 shares of the biopharmaceutical company’s stock worth $65,000 after buying an additional 3,805 shares in the last quarter. Hedge funds and other institutional investors own 73.71% of the company’s stock.

Geron Stock Performance

Shares of NASDAQ GERN opened at $4.57 on Friday. The company’s fifty day moving average price is $4.53 and its 200 day moving average price is $4.10. Geron Co. has a 1 year low of $1.64 and a 1 year high of $5.34. The company has a market capitalization of $2.71 billion, a PE ratio of -13.06 and a beta of 0.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.60 and a current ratio of 3.61.

Geron (NASDAQ:GERN) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). Geron had a negative net margin of 15,990.68% and a negative return on equity of 73.79%. The firm had revenue of $0.88 million for the quarter, compared to the consensus estimate of $0.34 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. The firm’s quarterly revenue was up 2941.4% compared to the same quarter last year. On average, research analysts predict that Geron Co. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GERN. Stifel Nicolaus raised their target price on shares of Geron from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price target on shares of Geron in a research report on Friday, August 9th. Leerink Partnrs raised shares of Geron to a “strong-buy” rating in a research report on Monday, September 9th. Wedbush restated an “outperform” rating and set a $8.00 price target on shares of Geron in a research note on Thursday, August 8th. Finally, StockNews.com upgraded shares of Geron to a “sell” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.06.

Insider Buying and Selling at Geron

In other Geron news, COO Andrew J. Grethlein sold 674,348 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $4.56, for a total transaction of $3,075,026.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

About Geron

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.