Geron (NASDAQ:GERN) Posts Earnings Results, Beats Expectations By $0.01 EPS

Posted by admin on Mar 17th, 2023

Geron (NASDAQ:GERN – Get Rating) released its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01, RTT News reports. The firm had revenue of $0.10 million for the quarter, compared to analyst estimates of $0.12 million. Geron had a negative net margin of 8,563.80% and a negative return on equity of 110.76%. During the same quarter in the prior year, the business earned ($0.10) earnings per share.

Geron Stock Performance

Shares of NASDAQ GERN opened at $2.65 on Friday. The company’s fifty day moving average price is $2.97 and its 200 day moving average price is $2.56. Geron has a 1 year low of $1.02 and a 1 year high of $3.84. The company has a market capitalization of $1.01 billion, a PE ratio of -7.36 and a beta of 0.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.68 and a current ratio of 2.68.

Insider Buying and Selling

In related news, COO Andrew J. Grethlein sold 384,719 shares of the stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $3.03, for a total transaction of $1,165,698.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Geron news, COO Andrew J. Grethlein sold 384,719 shares of the stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $3.03, for a total transaction of $1,165,698.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John A. Scarlett sold 446,666 shares of the stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $3.03, for a total transaction of $1,353,397.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,231,385 shares of company stock valued at $3,751,097. Corporate insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Geron

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC purchased a new position in Geron during the fourth quarter valued at $26,000. CIBC Asset Management Inc purchased a new position in Geron during the fourth quarter valued at $27,000. Engineers Gate Manager LP purchased a new position in Geron during the fourth quarter valued at $45,000. Metropolitan Life Insurance Co NY lifted its holdings in Geron by 23.9% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 22,298 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 4,306 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Geron by 75.7% in the fourth quarter. Wells Fargo & Company MN now owns 23,675 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 10,201 shares during the last quarter. 49.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GERN shares. StockNews.com upgraded shares of Geron to a “sell” rating in a research note on Thursday, January 26th. Wedbush increased their price objective on shares of Geron from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 4th. B. Riley increased their price objective on shares of Geron from $4.00 to $5.00 in a research note on Monday, January 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $4.00 price objective on shares of Geron in a research note on Friday. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, Geron presently has a consensus rating of “Moderate Buy” and an average price target of $5.50.

About Geron

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Geron Corp. operates as a biotechnology company. It develops a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies. The firm develops therapeutic products for oncology. The company was founded by Michael D. West on November 28, 1990 and is headquartered in Foster City, CA.