Geron (NASDAQ:GERN) Sees Strong Trading Volume – Time to Buy?

Geron Co. (NASDAQ:GERN) shares saw unusually-high trading volume on Thursday . Approximately 11,157,844 shares were traded during mid-day trading, an increase of 8% from the previous session’s volume of 10,309,587 shares.The stock last traded at $4.28 and had previously closed at $4.27.

Analyst Ratings Changes

Several research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $6.00 target price on shares of Geron in a research note on Friday, August 9th. Leerink Partners began coverage on shares of Geron in a research report on Monday, September 9th. They issued an “outperform” rating and a $7.00 price objective on the stock. Leerink Partnrs raised shares of Geron to a “strong-buy” rating in a research report on Monday, September 9th. Wedbush reissued an “outperform” rating and issued a $8.00 target price on shares of Geron in a report on Thursday, August 8th. Finally, HC Wainwright assumed coverage on Geron in a report on Tuesday. They set a “buy” rating and a $8.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Geron has an average rating of “Moderate Buy” and an average price target of $7.05.

Geron Stock Performance

The firm has a fifty day simple moving average of $4.33 and a 200-day simple moving average of $4.30. The company has a current ratio of 3.61, a quick ratio of 3.60 and a debt-to-equity ratio of 0.12.

Geron (NASDAQ:GERN) last released 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 return on equity of 73.79% and a negative net margin of 15,990.68%. The firm had revenue of $0.88 million for the quarter, compared to the consensus estimate of $0.34 million. During the same quarter last year, the business posted ($0.09) EPS. The firm’s quarterly revenue was up 2941.4% compared to the same quarter last year. Analysts predict that Geron Co. will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Geron

A number of institutional investors have recently modified their holdings of the business. National Bank of Canada FI grew its position in Geron by 1,200.0% during the 2nd quarter. National Bank of Canada FI now owns 6,500 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 6,000 shares during the last quarter. Crewe Advisors LLC boosted its stake in shares of Geron by 870.0% during the first quarter. Crewe Advisors LLC now owns 9,700 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 8,700 shares during the period. Kingsview Wealth Management LLC purchased a new position in shares of Geron during the first quarter worth about $34,000. American Trust acquired a new position in Geron in the 1st quarter valued at about $38,000. Finally, Rovin Capital UT ADV purchased a new stake in Geron during the 3rd quarter valued at approximately $62,000. 73.71% of the stock is owned by institutional investors and hedge funds.

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.