Exchange Traded Concepts LLC Has $174,000 Stake in Geron Co. (NASDAQ:GERN)

Exchange Traded Concepts LLC reduced its position in Geron Co. (NASDAQ:GERN) by 69.1% during the third quarter, Holdings Channel.com reports. The firm owned 38,321 shares of the biopharmaceutical company’s stock after selling 85,861 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Geron were worth $174,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. National Bank of Canada FI raised its holdings in 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 buying an additional 6,000 shares during the last quarter. Crewe Advisors LLC raised its holdings in shares of Geron by 870.0% in the 1st quarter. Crewe Advisors LLC now owns 9,700 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 8,700 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in Geron in the 1st quarter valued at about $34,000. American Trust acquired a new position in Geron during the 1st quarter valued at about $38,000. Finally, CIBC Asset Management Inc increased its holdings in Geron by 32.7% during the 2nd quarter. CIBC Asset Management Inc now owns 15,438 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 3,805 shares in the last quarter. Institutional investors and hedge funds own 73.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GERN. Scotiabank initiated coverage on Geron in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $6.00 target price on the stock. Leerink Partnrs raised shares of Geron to a “strong-buy” rating in a report on Monday, September 9th. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 target price on shares of Geron in a report on Friday, August 9th. Leerink Partners began coverage on shares of Geron in a report on Monday, September 9th. They set an “outperform” rating and a $7.00 price target on the stock. Finally, StockNews.com upgraded shares of Geron to a “sell” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.94.

Geron Stock Down 3.4 %

GERN opened at $3.95 on Tuesday. Geron Co. has a twelve month low of $1.64 and a twelve month high of $5.34. The company’s 50-day moving average price is $4.42 and its two-hundred day moving average price is $4.26. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of -11.29 and a beta of 0.50. The company has a quick ratio of 3.60, a current ratio of 3.61 and a debt-to-equity ratio of 0.12.

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

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.