Wellington Management Group LLP Sells 920,655 Shares of Geron Co. (NASDAQ:GERN)

Wellington Management Group LLP reduced its holdings in Geron Co. (NASDAQ:GERN) by 8.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,484,971 shares of the biopharmaceutical company’s stock after selling 920,655 shares during the quarter. Wellington Management Group LLP’s holdings in Geron were worth $20,013,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Geron by 37.9% in the 4th quarter. BNP Paribas Financial Markets now owns 714,012 shares of the biopharmaceutical company’s stock worth $1,507,000 after acquiring an additional 196,328 shares during the last quarter. Federated Hermes Inc. bought a new position in Geron in the 3rd quarter worth about $29,000. Russell Investments Group Ltd. increased its stake in Geron by 19.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,237,234 shares of the biopharmaceutical company’s stock worth $2,611,000 after acquiring an additional 204,765 shares during the last quarter. Walleye Capital LLC increased its stake in Geron by 146.5% in the 3rd quarter. Walleye Capital LLC now owns 2,226,066 shares of the biopharmaceutical company’s stock worth $4,719,000 after acquiring an additional 1,322,938 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Geron by 20.8% in the 3rd quarter. Invesco Ltd. now owns 4,557,790 shares of the biopharmaceutical company’s stock worth $9,663,000 after purchasing an additional 784,822 shares in the last quarter. 73.71% of the stock is currently owned by institutional investors.

Geron Trading Down 1.5 %

GERN opened at $4.52 on Wednesday. The business has a 50 day simple moving average of $4.00 and a two-hundred day simple moving average of $2.95. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -12.91 and a beta of 0.43. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.67 and a quick ratio of 3.67. Geron Co. has a one year low of $1.64 and a one year high of $5.34.

Geron (NASDAQ:GERN) last released its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.15 million. Geron had a negative return on equity of 68.16% and a negative net margin of 38,730.00%. Analysts predict that Geron Co. will post -0.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GERN shares. Stifel Nicolaus upped their price objective on Geron from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Robert W. Baird cut Geron from an “outperform” rating to a “neutral” rating and set a $4.50 price target on the stock. in a research note on Tuesday, April 30th. The Goldman Sachs Group boosted their price objective on Geron from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Barclays assumed coverage on shares of Geron in a report on Monday, June 10th. They issued an “overweight” rating and a $9.00 target price on the stock. Finally, TD Cowen started coverage on shares of Geron in a report on Monday, April 29th. They set a “buy” rating and a $10.00 price target for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Geron has an average rating of “Moderate Buy” and a consensus target price of $6.93.

Insider Buying and Selling at Geron

In other news, EVP Faye Feller sold 287,900 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $4.63, for a total value of $1,332,977.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO John A. Scarlett sold 600,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $4.00, for a total value of $2,400,000.00. Following the completion of the transaction, the chief executive officer now owns 600,000 shares of the company’s stock, valued at approximately $2,400,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Faye Feller sold 287,900 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $4.63, for a total value of $1,332,977.00. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

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.