Iron Triangle Partners LP Buys Shares of 3,351,000 Geron Co. (NASDAQ:GERN)

Iron Triangle Partners LP acquired a new stake in shares of Geron Co. (NASDAQ:GERN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,351,000 shares of the biopharmaceutical company’s stock, valued at approximately $15,214,000. Geron comprises 2.1% of Iron Triangle Partners LP’s investment portfolio, making the stock its 17th largest holding. Iron Triangle Partners LP owned approximately 0.55% of Geron at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Arizona State Retirement System increased its stake in Geron by 3.1% during the 2nd quarter. Arizona State Retirement System now owns 115,400 shares of the biopharmaceutical company’s stock valued at $489,000 after purchasing an additional 3,465 shares in the last quarter. Values First Advisors Inc. raised its stake in Geron by 13.6% in the 3rd quarter. Values First Advisors Inc. now owns 30,674 shares of the biopharmaceutical company’s stock worth $139,000 after acquiring an additional 3,668 shares during the last quarter. CIBC Asset Management Inc lifted its position in Geron by 32.7% during the 2nd quarter. CIBC Asset Management Inc now owns 15,438 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 3,805 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Geron by 23.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,802 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 4,094 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Geron by 32.6% in the third quarter. SG Americas Securities LLC now owns 22,630 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 5,559 shares during the period. Institutional investors and hedge funds own 73.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GERN shares. Wedbush reiterated an “outperform” rating and issued a $8.00 price target on shares of Geron in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price objective on shares of Geron in a report on Friday, August 9th. Leerink Partnrs raised Geron to a “strong-buy” rating in a report on Monday, September 9th. Leerink Partners started coverage on Geron in a research note on Monday, September 9th. They set an “outperform” rating and a $7.00 price target on the stock. Finally, StockNews.com upgraded shares of Geron to a “sell” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.05.

Geron Stock Down 1.9 %

GERN stock opened at $4.04 on Tuesday. The company has a market capitalization of $2.44 billion, a P/E ratio of -12.63 and a beta of 0.51. The firm has a 50 day simple moving average of $4.16 and a 200-day simple moving average of $4.33. The company has a current ratio of 2.89, a quick ratio of 2.74 and a debt-to-equity ratio of 0.04. Geron Co. has a twelve month low of $1.64 and a twelve month high of $5.34.

Geron (NASDAQ:GERN) last released its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. The business had revenue of $28.27 million during the quarter, compared to analyst estimates of $18.97 million. Geron had a negative return on equity of 67.53% and a negative net margin of 682.48%. The business’s revenue for the quarter was up 17138.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) EPS. On average, equities research analysts predict that Geron Co. will post -0.25 earnings per share for the current fiscal year.

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.