Corebridge Financial Inc. Sells 17,126 Shares of Geron Co. (NASDAQ:GERN)

Corebridge Financial Inc. cut its stake in shares of Geron Co. (NASDAQ:GERN) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 294,040 shares of the biopharmaceutical company’s stock after selling 17,126 shares during the period. Corebridge Financial Inc.’s holdings in Geron were worth $1,041,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Nvest Financial LLC acquired a new stake in Geron during the 4th quarter worth approximately $693,000. Charles Schwab Investment Management Inc. boosted its position in shares of Geron by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,523,864 shares of the biopharmaceutical company’s stock valued at $16,014,000 after acquiring an additional 73,482 shares during the period. Barclays PLC boosted its position in shares of Geron by 114.9% in the third quarter. Barclays PLC now owns 1,299,912 shares of the biopharmaceutical company’s stock valued at $5,902,000 after acquiring an additional 694,931 shares during the period. World Investment Advisors LLC grew its stake in shares of Geron by 10,151.4% in the third quarter. World Investment Advisors LLC now owns 1,029,553 shares of the biopharmaceutical company’s stock valued at $4,674,000 after acquiring an additional 1,019,510 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Geron by 519.0% during the third quarter. BNP Paribas Financial Markets now owns 205,332 shares of the biopharmaceutical company’s stock worth $932,000 after acquiring an additional 172,160 shares during the period. Institutional investors own 73.71% of the company’s stock.

Geron Stock Performance

Shares of GERN stock opened at $1.38 on Friday. The stock has a market capitalization of $878.93 million, a PE ratio of -4.31 and a beta of 0.54. Geron Co. has a one year low of $1.33 and a one year high of $5.34. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 2.74. The business’s 50 day simple moving average is $2.15 and its 200 day simple moving average is $3.28.

Geron (NASDAQ:GERN) last announced its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). Geron had a negative net margin of 682.48% and a negative return on equity of 67.53%. The business had revenue of $47.54 million during the quarter, compared to the consensus estimate of $45.29 million. As a group, research analysts forecast that Geron Co. will post -0.25 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GERN shares. HC Wainwright reaffirmed a “neutral” rating on shares of Geron in a report on Wednesday, March 12th. Stifel Nicolaus lowered their price objective on Geron from $8.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Scotiabank dropped their price target on Geron from $6.00 to $4.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 27th. Barclays restated an “overweight” rating and set a $4.00 price objective (down from $9.00) on shares of Geron in a research report on Thursday, February 27th. Finally, B. Riley cut shares of Geron from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $3.50 to $2.00 in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.