Sei Investments Co. Increases Stock Position in Geron Co. (NASDAQ:GERN)

Sei Investments Co. grew its position in shares of Geron Co. (NASDAQ:GERN) by 55.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 153,678 shares of the biopharmaceutical company’s stock after buying an additional 54,609 shares during the quarter. Sei Investments Co.’s holdings in Geron were worth $652,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GERN. Arizona State Retirement System boosted its position in shares of Geron by 3.1% in the 2nd quarter. Arizona State Retirement System now owns 115,400 shares of the biopharmaceutical company’s stock valued at $489,000 after purchasing an additional 3,465 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Geron by 32.7% in the second quarter. CIBC Asset Management Inc now owns 15,438 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 3,805 shares during the period. National Bank of Canada FI grew its position 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 worth $28,000 after acquiring an additional 6,000 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Geron by 12.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 64,438 shares of the biopharmaceutical company’s stock valued at $212,000 after acquiring an additional 7,034 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Geron by 7.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 104,924 shares of the biopharmaceutical company’s stock valued at $445,000 after purchasing an additional 7,115 shares during the last quarter. Hedge funds and other institutional investors own 73.71% of the company’s stock.

Geron Stock Performance

NASDAQ GERN opened at $4.27 on Wednesday. The company has a current ratio of 3.61, a quick ratio of 3.60 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $4.50 and its two-hundred day moving average is $4.20. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -12.20 and a beta of 0.50. Geron Co. has a 12-month low of $1.64 and a 12-month high of $5.34.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Leerink Partnrs raised shares of Geron to a “strong-buy” rating in a research report on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and set a $6.00 price target on shares of Geron in a report on Friday, August 9th. Leerink Partners began coverage on Geron in a research report on Monday, September 9th. They issued an “outperform” rating and a $7.00 price target on the stock. StockNews.com raised Geron to a “sell” rating in a research report on Monday, August 5th. Finally, Wedbush reissued an “outperform” rating and issued a $8.00 target price on shares of Geron in a report on Thursday, August 8th. One equities research 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.06.

Geron Company Profile

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.