CIBC Asset Management Inc has a $65,000 stock position in Geron Co. (NASDAQ: GERN)

CIBC Asset Management Inc raised its position in shares of Geron Co. (NASDAQ:GERN – Free Report) by 32.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,438 shares of the biopharmaceutical company’s stock after purchasing an additional 3,805 shares during the quarter. CIBC Asset Management Inc’s holdings in Geron were worth $65,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GERN. Farallon Capital Management LLC purchased a new stake in Geron in the 1st quarter valued at $24,734,000. Affinity Asset Advisors LLC purchased a new stake in shares of Geron in the first quarter valued at approximately $8,250,000. Price T Rowe Associates Inc. MD raised its holdings in Geron by 999.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,064,963 shares of the biopharmaceutical company’s stock valued at $6,815,000 after acquiring an additional 1,877,184 shares during the period. Altitude Crest Partners Inc. purchased a new position in Geron in the 1st quarter worth approximately $5,054,000. Finally, Vanguard Group Inc. raised its stake in Geron by 4.6% in the first quarter. Vanguard Group Inc. now owns 29,869,287 shares of the biopharmaceutical company’s stock worth $98,569,000, after buying another 1,304,713 shares during the period. 73.71% of shares are currently owned by institutional investors.

The Wall Street analyst weighs in

A number of brokerages have recently issued reports on GERN. Wedbush reissued an “outperform” rating and issued a $8.00 target price on shares of Geron in a report on Thursday, August 8th. StockNews.com upgraded Geron to a “sell” rating in a research note on Monday, August 5th. Leerink Partners upgraded shares of Geron to a “strong-buy” rating in a research note on Monday. Barclays began coverage on shares of Geron in a research report on Monday, June 10th. They set an “overweight” rating and a $9.00 price target for the company. Finally, Stifel Nicolaus boosted their price target on shares of Geron from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Moderate Buy” and an average price target of $7.06, according to MarketBeat.com.

Check out our latest research report on Geron

Insider trading at Geron

In other news, COO Andrew J. Grethlein sold 674,348 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $4.56, for a total value of $3,075,026.88. The transaction was disclosed in a filing with the SEC, which is available via this link. 3.10% of shares are owned by corporate insiders.

Geron trading down 1.6%

GERN opened at $4.34 on Wednesday. Geron Co. has a 1 year low of $1.64 and a 1 year high of $5.34. The firm has a 50 day moving average price of $4.57 and a two hundred day moving average price of $3.91. The stock has a market cap of $2.62 billion, a PE ratio of -12.40 and a beta of 0.50. 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 – Get Free Report ) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). The firm had revenue of $0.88 million during the quarter, compared to analysts’ expectations of $0.34 million. Geron had a negative net margin of 15,990.68% and a negative return on equity of 73.79%. Geron’s revenue is up 2941.4% year over year. In the same quarter last year, the company posted EPS of ($0.09). As a group, stock analysts anticipate that Geron Co. will record -0.35 earnings per share for the current fiscal year.

Geron’s profile

(Free Report)

Geron Corporation, an early-stage clinical biopharmaceutical company, focuses on the development and commercialization of medicines for myeloid hematologic malignancies. It is developing imetelstat, a telomerase inhibitor in phase 3 clinical trials that inhibits the uncontrolled proliferation of malignant stem and progenitor cells in myeloid hematologic malignancies for the treatment of low- or intermediate-risk and intermediate-2 or high-risk myelodysplastic syndromes. myelofibrosis.

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