Geron Corp. [GERN] Stock trading around $3.17 per share: What’s Next?

Geron Corp. [NASDAQ: GERN] stock went on a downward path that fall over -3.94% on Monday, amounting to a one-week price decrease of less than -4.23%. The company report on March 19, 2024 at 9:07 AM that Geron Corporation Announces Pricing of $150 Million Underwritten Offering of Common Stock and Pre-Funded Warrants.

Geron Corporation (Nasdaq: GERN), a late-stage clinical biopharmaceutical company, today announced the pricing of an underwritten offering consisting of 41,999,998 shares of its common stock at a price of $3.00 per share and pre-funded warrants to purchase 8,002,668 shares of its common stock. The pre-funded warrants are being sold at a price of $2.999 per pre-funded warrant. All of the securities in the offering are to be sold by Geron. The offering included participation from RA Capital Management, Fairmount, OrbiMed, Farallon Capital Management, Adage Capital Partners, L.P., Boxer Capital, Vivo Capital, Deep Track Capital, and multiple large investment management firms, in addition to other new and existing investors. The offering is expected to close on or about March 21, 2024, subject to the satisfaction of customary closing conditions.

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The gross proceeds to Geron from this underwritten offering, before deducting the underwriting discount and other estimated offering expenses, are expected to be approximately $150.0 million. Geron currently intends to use the net proceeds from this offering, together with its existing cash, cash equivalents, and current and noncurrent marketable securities, to fund the potential commercialization of imetelstat in low or intermediate-1 risk myelodysplastic syndromes in the U.S, and potential launch and commercialization of imetelstat in low or intermediate-1 risk myelodysplastic syndromes in the EU, subject to receipt of regulatory approvals, as well as continued development and potential regulatory submissions for imetelstat in relapsed/refractory myelofibrosis. Geron intends to use the remaining proceeds, if any, for working capital and general corporate purposes.

Over the last 12 months, GERN stock rose by 46.08%. The one-year Geron Corp. stock forecast points to a potential upside of 37.6. The average equity rating for GERN stock is currently 1.17, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.73 billion, with 544.91 million shares outstanding and 447.58 million shares in the current float. Compared to the average trading volume of 11.21M shares, GERN stock reached a trading volume of 7241768 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Geron Corp. [GERN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GERN shares is $5.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GERN stock is a recommendation set at 1.17. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Geron Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 15, 2024. The new note on the price target was released on September 12, 2023, representing the official price target for Geron Corp. stock. Previously, the target price had yet another raise to $3, while Goldman analysts kept a Neutral rating on GERN stock.

The Average True Range (ATR) for Geron Corp. is set at 0.25, with the Price to Sales ratio for GERN stock in the period of the last 12 months amounting to 7212.54. The Price to Book ratio for the last quarter was 6.97, with the Price to Cash per share for the same quarter was set at 0.61.

GERN Stock Performance Analysis:

Geron Corp. [GERN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.23. With this latest performance, GERN shares gained by 62.56% in over the last four-week period, additionally plugging by 46.08% over the last 6 months – not to mention a rise of 46.08% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GERN stock in for the last two-week period is set at 62.25, with the RSI for the last a single of trading hit 60.71, and the three-weeks RSI is set at 61.91 for Geron Corp. [GERN]. The present Moving Average for the last 50 days of trading for this stock 2.30, while it was recorded at 3.27 for the last single week of trading, and 2.36 for the last 200 days.

Insight into Geron Corp. Fundamentals:

Geron Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.16 and a Current Ratio set at 3.16.

GERN Stock EPS

With the latest financial reports released by the company, Geron Corp. posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 30.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GERN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Geron Corp. go to 5.00%.

Geron Corp. [GERN] Institutonal Ownership Details

The top three institutional holders of GERN stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in GERN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in GERN stock with ownership which is approximately 5.8386%.