Hennion & Walsh Asset Management Inc. Acquires 604,278 Shares of Geron Corporation $GERN

Hennion & Walsh Asset Management Inc. raised its holdings in Geron Corporation (NASDAQ:GERN) by 152.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,000,910 shares of the biopharmaceutical company’s stock after acquiring an additional 604,278 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.16% of Geron worth $1,281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Foresight Capital Management Advisors Inc. bought a new stake in shares of Geron during the second quarter worth $80,000. Bank of America Corp DE increased its stake in Geron by 68.9% in the 1st quarter. Bank of America Corp DE now owns 4,556,278 shares of the biopharmaceutical company’s stock worth $6,789,000 after buying an additional 1,858,268 shares during the period. Janus Henderson Group PLC increased its stake in Geron by 826.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,218,196 shares of the biopharmaceutical company’s stock worth $3,304,000 after buying an additional 1,978,839 shares during the period. Amundi lifted its holdings in Geron by 365.7% during the 1st quarter. Amundi now owns 132,367 shares of the biopharmaceutical company’s stock valued at $197,000 after buying an additional 103,944 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in Geron by 55.1% during the 1st quarter. California State Teachers Retirement System now owns 737,143 shares of the biopharmaceutical company’s stock valued at $1,098,000 after buying an additional 261,886 shares in the last quarter. Hedge funds and other institutional investors own 73.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Geron from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.00.

Geron Stock Performance

GERN stock opened at $1.57 on Thursday. Geron Corporation has a 1-year low of $1.04 and a 1-year high of $2.01. The business has a 50-day moving average price of $1.36 and a 200 day moving average price of $1.47. The company has a market capitalization of $1.01 billion, a P/E ratio of -14.27 and a beta of 0.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 6.91 and a quick ratio of 5.16.

Geron (NASDAQ:GERN) last issued its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $57.48 million for the quarter, compared to the consensus estimate of $55.30 million. Geron had a negative return on equity of 24.48% and a negative net margin of 34.17%. As a group, equities research analysts forecast that Geron Corporation will post -0.04 EPS for the current fiscal year.

Geron Company Profile

Geron Corporation (NASDAQ: GERN) is a clinical-stage biotechnology company dedicated to developing and commercializing novel treatments that target telomerase, an enzyme critical to cancer cell immortality. The company’s research is focused on hematologic malignancies and solid tumors, with a pipeline designed to address diseases that have historically had limited therapeutic options.

The lead product candidate, imetelstat, is a first-in-class telomerase inhibitor currently in Phase II and Phase III clinical trials for myelofibrosis and myelodysplastic syndromes.