First Turn Management LLC Invests $14.19 Million in Geron Co. (NASDAQ:GERN)

First Turn Management LLC acquired a new position in Geron Co. (NASDAQ:GERN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,124,967 shares of the biopharmaceutical company’s stock, valued at approximately $14,187,000. Geron makes up 2.2% of First Turn Management LLC’s portfolio, making the stock its 25th largest holding.

Other large investors have also added to or reduced their stakes in the company. National Bank of Canada FI grew its holdings in Geron by 1,200.0% during the 2nd quarter. National Bank of Canada FI now owns 6,500 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 6,000 shares in the last quarter. Crewe Advisors LLC grew its holdings in Geron by 870.0% during the 1st quarter. Crewe Advisors LLC now owns 9,700 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 8,700 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in Geron during the 1st quarter valued at $34,000. American Trust acquired a new stake in Geron during the 1st quarter valued at $38,000. Finally, Rovin Capital UT ADV acquired a new stake in Geron during the 3rd quarter valued at $62,000. 73.71% of the stock is owned by institutional investors and hedge funds.

Geron Trading Up 3.3 %

Geron stock opened at $3.78 on Tuesday. The firm’s 50-day moving average is $4.25 and its 200-day moving average is $4.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.74 and a current ratio of 2.89. Geron Co. has a 1 year low of $1.64 and a 1 year high of $5.34. The company has a market cap of $2.29 billion, a P/E ratio of -11.81 and a beta of 0.52.

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

Wall Street Analyst Weigh In

GERN has been the subject of a number of recent analyst reports. Scotiabank initiated coverage on shares of Geron in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $6.00 price target for the company. StockNews.com raised shares of Geron to a “sell” rating in a report on Monday, August 5th. Leerink Partnrs upgraded shares of Geron to a “strong-buy” rating in a research note on Monday, September 9th. Wedbush reiterated an “outperform” rating and set a $8.00 price objective on shares of Geron in a research note on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $6.00 price objective on shares of Geron in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.05.

Geron Company Profile

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.