Seven Eight Capital LP Takes $123,000 Position in Geron Co. (GERN)

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Seven Eight Capital LP bought a new position in Geron Co. (NASDAQ:GERN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 69,701 shares of the biopharmaceutical company’s stock, valued at approximately $123,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Summit X LLC purchased a new stake in Geron in the 2nd quarter worth approximately $132,000. SG Americas Securities LLC grew its stake in Geron by 352.2% in the 2nd quarter. SG Americas Securities LLC now owns 57,936 shares of the biopharmaceutical company’s stock worth $199,000 after acquiring an additional 45,124 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in Geron by 57.5% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 70,970 shares of the biopharmaceutical company’s stock worth $302,000 after acquiring an additional 25,900 shares during the period. MetLife Investment Advisors LLC boosted its holdings in shares of Geron by 72.3% in the 2nd quarter. MetLife Investment Advisors LLC now owns 78,073 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 32,772 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Geron by 17.0% in the 1st quarter. Wells Fargo & Company MN now owns 124,353 shares of the biopharmaceutical company’s stock valued at $529,000 after purchasing an additional 18,111 shares during the last quarter. 36.96% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Robert J. Spiegel sold 175,000 shares of Geron stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $6.85, for a total transaction of $1,198,750.00. Following the sale, the director now owns 110,576 shares of the company’s stock, valued at approximately $757,445.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen Rosenfield sold 1,362,250 shares of Geron stock in a transaction on Friday, August 24th. The stock was sold at an average price of $4.51, for a total transaction of $6,143,747.50. Following the sale, the executive vice president now directly owns 36,000 shares in the company, valued at approximately $162,360. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.

A number of equities analysts have weighed in on the stock. B. Riley assumed coverage on shares of Geron in a report on Thursday, July 5th. They issued a “buy” rating and a $5.75 price target on the stock. ValuEngine upgraded shares of Geron from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. BidaskClub upgraded shares of Geron from a “strong sell” rating to a “sell” rating in a report on Thursday, August 9th. S&P Equity Research decreased their price target on shares of Geron from $2.32 to $1.80 in a report on Thursday, September 27th. Finally, Zacks Investment Research lowered shares of Geron from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $3.76.

Shares of GERN opened at $1.50 on Wednesday. Geron Co. has a fifty-two week low of $1.46 and a fifty-two week high of $6.99.

Geron (NASDAQ:GERN) last posted its earnings results on Tuesday, July 31st. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). Geron had a negative net margin of 3,232.73% and a negative return on equity of 23.15%. The business had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.21 million. Equities research analysts expect that Geron Co. will post -0.2 EPS for the current year.

About Geron

Geron Corporation operates as a biopharmaceutical company. The company supports the clinical stage development of imetelstat, a telomerase inhibitor for the treatment of hematologic myeloid malignancies. It has collaboration and license agreement with Janssen Biotech, Inc to develop and commercialize imetelstat worldwide for indications in oncology, including hematologic myeloid malignancies and other human therapeutic uses.

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Institutional Ownership by Quarter for Geron (NASDAQ:GERN)

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