Geron Corporation (NASDAQ:GERN) Sees Significant Decline in Short Interest

Geron Corporation (NASDAQ:GERN) was the target of a significant drop in short interest during the month of September. As of September 29th, there was short interest totalling 28,496,450 shares, a drop of 13.5% from the September 15th total of 32,924,843 shares. Based on an average daily volume of 693,050 shares, the short-interest ratio is currently 41.1 days. Approximately 18.0% of the shares of the company are sold short.

Several research analysts have issued reports on the company. BidaskClub cut Geron Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research raised Geron Corporation from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research note on Tuesday, October 3rd. Finally, FBR & Co reissued a “buy” rating on shares of Geron Corporation in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $3.75.

Shares of Geron Corporation (NASDAQ:GERN) opened at 2.04 on Friday. The stock’s market capitalization is $324.79 million. The firm has a 50 day moving average price of $2.16 and a 200 day moving average price of $2.47. Geron Corporation has a one year low of $1.81 and a one year high of $3.15.

Geron Corporation (NASDAQ:GERN) last issued its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Geron Corporation had a negative net margin of 433.72% and a negative return on equity of 21.30%. The business had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.38 million. During the same quarter last year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was down 19.0% compared to the same quarter last year. Analysts predict that Geron Corporation will post ($0.18) earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. increased its stake in shares of Geron Corporation by 42.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 82,426 shares of the biopharmaceutical company’s stock valued at $180,000 after purchasing an additional 24,370 shares during the period. IHT Wealth Management LLC acquired a new position in shares of Geron Corporation during the second quarter valued at approximately $122,000. State Street Corp increased its stake in shares of Geron Corporation by 9.8% during the second quarter. State Street Corp now owns 5,127,578 shares of the biopharmaceutical company’s stock valued at $14,205,000 after acquiring an additional 459,700 shares during the period. Zacks Investment Management acquired a new position in shares of Geron Corporation during the second quarter valued at approximately $148,000. Finally, Voya Investment Management LLC increased its stake in shares of Geron Corporation by 12.0% during the second quarter. Voya Investment Management LLC now owns 79,449 shares of the biopharmaceutical company’s stock valued at $220,000 after acquiring an additional 8,534 shares during the period. Institutional investors own 38.79% of the company’s stock.

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About Geron Corporation

Geron Corporation (Geron) is a biopharmaceutical company, which supports the clinical stage development of a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies by Janssen Biotech, Inc (Janssen). The Company is engaged in the development of therapeutic products for oncology. Using its nucleic acid chemistry, Geron designed Imetelstat to be an oligonucleotide that binds with high affinity to the ribonucleic acid (RNA) template of telomerase, thereby directly inhibiting telomerase activity.

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