Bank of New York Mellon Corp Sells 9,621 Shares of Geron Co. (NASDAQ:GERN)

Bank of New York Mellon Corp lowered its position in shares of Geron Co. (NASDAQ:GERN) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,649,422 shares of the biopharmaceutical company’s stock after selling 9,621 shares during the quarter. Bank of New York Mellon Corp’s holdings in Geron were worth $5,839,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Handelsbanken Fonder AB bought a new stake in Geron during the fourth quarter valued at $601,000. Rhumbline Advisers boosted its position in Geron by 1.5% during the fourth quarter. Rhumbline Advisers now owns 834,844 shares of the biopharmaceutical company’s stock valued at $2,955,000 after acquiring an additional 12,070 shares during the last quarter. abrdn plc boosted its position in Geron by 24.2% during the fourth quarter. abrdn plc now owns 1,847,285 shares of the biopharmaceutical company’s stock valued at $6,539,000 after acquiring an additional 360,027 shares during the last quarter. Lazari Capital Management Inc. boosted its position in shares of Geron by 11.7% during the 4th quarter. Lazari Capital Management Inc. now owns 76,424 shares of the biopharmaceutical company’s stock worth $271,000 after purchasing an additional 8,000 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Geron by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 128,176 shares of the biopharmaceutical company’s stock worth $454,000 after purchasing an additional 12,239 shares in the last quarter. Institutional investors own 73.71% of the company’s stock.

Geron Trading Down 1.8 %

NASDAQ:GERN opened at $1.64 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.74 and a current ratio of 2.89. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -5.13 and a beta of 0.53. Geron Co. has a 52 week low of $1.46 and a 52 week high of $5.34. The firm has a 50-day moving average price of $2.58 and a two-hundred day moving average price of $3.56.

Geron (NASDAQ:GERN) last posted its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $47.54 million during the quarter, compared to analyst estimates of $45.29 million. Geron had a negative net margin of 682.48% and a negative return on equity of 67.53%. On average, equities analysts expect that Geron Co. will post -0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GERN shares. Stifel Nicolaus cut their price objective on shares of Geron from $8.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $5.00 price objective on shares of Geron in a research report on Wednesday, March 12th. Scotiabank cut their price objective on shares of Geron from $6.00 to $4.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 27th. B. Riley cut shares of Geron from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $3.50 to $2.00 in a research report on Thursday, February 27th. Finally, Barclays reissued an “overweight” rating and set a $4.00 price objective (down previously from $9.00) on shares of Geron in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.75.

Geron 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.