Ally Bridge Group NY LLC Sells 23,834 Shares of Geron Co. (NASDAQ:GERN)

Ally Bridge Group NY LLC lowered its stake in shares of Geron Co. (NASDAQ:GERN) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,736,663 shares of the biopharmaceutical company’s stock after selling 23,834 shares during the quarter. Geron comprises approximately 6.9% of Ally Bridge Group NY LLC’s holdings, making the stock its 3rd largest holding. Ally Bridge Group NY LLC owned 0.46% of Geron worth $11,603,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. National Bank of Canada FI raised its position in shares of Geron by 1,200.0% during the second quarter. National Bank of Canada FI now owns 6,500 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 6,000 shares during the last quarter. Crewe Advisors LLC grew its holdings in shares of Geron by 870.0% during the 1st quarter. Crewe Advisors LLC now owns 9,700 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 8,700 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Geron during the first quarter valued at approximately $34,000. American Trust acquired a new stake in Geron during the first quarter worth $38,000. Finally, CIBC Asset Management Inc increased its holdings in Geron by 32.7% in the 2nd quarter. CIBC Asset Management Inc now owns 15,438 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 3,805 shares during the period. 73.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GERN. Leerink Partnrs raised shares of Geron to a “strong-buy” rating in a report on Monday, September 9th. Wedbush reaffirmed an “outperform” rating and issued a $8.00 price target on shares of Geron in a research note on Thursday, August 8th. 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. Barclays initiated coverage on shares of Geron in a research note on Monday, June 10th. They issued an “overweight” rating and a $9.00 target price on the stock. Finally, StockNews.com upgraded shares of Geron to a “sell” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Geron has a consensus rating of “Moderate Buy” and an average price target of $7.06.

Insider Activity

In related news, COO Andrew J. Grethlein sold 674,348 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $4.56, for a total transaction of $3,075,026.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Geron Stock Down 0.6 %

Shares of NASDAQ GERN opened at $4.71 on Monday. Geron Co. has a 52-week low of $1.64 and a 52-week high of $5.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.60 and a current ratio of 3.61. The stock has a market cap of $2.79 billion, a P/E ratio of -13.46 and a beta of 0.50. The firm has a 50 day moving average price of $4.56 and a 200 day moving average price of $4.05.

Geron (NASDAQ:GERN) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). The business had revenue of $0.88 million for the quarter, compared to analysts’ expectations of $0.34 million. Geron had a negative net margin of 15,990.68% and a negative return on equity of 73.79%. The firm’s revenue was up 2941.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. Analysts expect that Geron Co. will post -0.34 EPS for the current 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.