Paloma Partners Management Co increased its position in Geron Co. (NASDAQ:GERN) by 81.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 103,200 shares of the biopharmaceutical company’s stock after buying an additional 46,445 shares during the period. Paloma Partners Management Co owned 0.06% of Geron worth $103,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in GERN. Vanguard Group Inc. boosted its position in Geron by 8.2% during the third quarter. Vanguard Group Inc. now owns 8,751,607 shares of the biopharmaceutical company’s stock worth $15,403,000 after purchasing an additional 661,446 shares during the period. Virtu Financial LLC acquired a new position in shares of Geron in the fourth quarter valued at $188,000. SG Americas Securities LLC raised its stake in shares of Geron by 99.6% in the fourth quarter. SG Americas Securities LLC now owns 56,479 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 28,181 shares in the last quarter. MetLife Investment Advisors LLC raised its stake in shares of Geron by 50.1% in the third quarter. MetLife Investment Advisors LLC now owns 117,168 shares of the biopharmaceutical company’s stock valued at $206,000 after purchasing an additional 39,095 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Geron by 4.1% in the third quarter. BlackRock Inc. now owns 13,935,757 shares of the biopharmaceutical company’s stock valued at $24,526,000 after purchasing an additional 546,779 shares in the last quarter. Hedge funds and other institutional investors own 33.54% of the company’s stock.
In related news, EVP Melissa Kelly Behrs sold 120,635 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $2.00, for a total value of $241,270.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.20% of the stock is owned by company insiders.
Geron (NASDAQ:GERN) last announced its earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.05). Geron had a negative return on equity of 17.61% and a negative net margin of 2,534.43%. The company had revenue of $0.38 million during the quarter, compared to analyst estimates of $0.22 million. On average, sell-side analysts forecast that Geron Co. will post -0.34 EPS for the current fiscal year.
A number of brokerages recently commented on GERN. BidaskClub upgraded Geron from a “hold” rating to a “buy” rating in a research note on Saturday, March 16th. ValuEngine upgraded Geron from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. BTIG Research initiated coverage on Geron in a research note on Tuesday, February 12th. They set a “buy” rating and a $4.00 price objective for the company. Needham & Company LLC upgraded Geron from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research note on Tuesday, April 9th. Finally, B. Riley upgraded Geron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $1.50 to $3.25 in a research note on Thursday, January 31st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $3.31.
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Geron Corporation, a clinical biopharmaceutical company, focuses on the development and commercialization of therapeutics for hematologic myeloid malignancies. The company supports the clinical stage development of imetelstat, a telomerase inhibitor for the treatment of hematologic myeloid malignancies.
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