Geron Corporation June 15th Short Interest Update

Geron Corporation (NASDAQ:GERN) has shown a rise of 1.1% or 310,468 shares in the short positions. The bets have increased to 28,927,749 shares on June 15,2016 from 28,617,281 shares on May 31,2016. With respect to the floated shares, the shorts are 18.3%. The days to cover are calculated to be 17, using the standard per day volume of 1,720,385 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Geron Corporation (NASDAQ:GERN): The stock opened at $2.63 on Friday but the bulls could not build on the opening and the stock topped out at $2.69 for the day. The stock traded down to $2.56 during the day, due to lack of any buying support eventually closed down at $2.59 with a loss of -5.82% for the day. The stock had closed at $2.75 on the previous day. The total traded volume was 2,444,543 shares.

The company shares have dropped -36.67% from its 1 Year high price. On Dec 2, 2015, the shares registered one year high at $5.30 and the one year low was seen on Feb 26, 2016. The 50-Day Moving Average price is $2.80 and the 200 Day Moving Average price is recorded at $3.18.

Geron Corporation (NASDAQ:GERN) has tumbled 5.13% during the past week and has dropped 9.12% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.55%. Geron Corporation (NASDAQ:GERN) has underperformed the index by 6.37% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Geron Corporation (Geron) is a clinical stage biopharmaceutical company focused on the development of a telomerase inhibitor, imetelstat, in hematologic myeloid malignancies. The Company operates in one segment, the discovery and development of therapeutic products for oncology. Telomerase is an enzyme that enables cancer cells, including malignant progenitor cells, to maintain telomere length, which provides a capacity for limitless, uncontrolled proliferation. Telomerase consists of two essential components: a ribonucleic acid (RNA) template (hTR), which binds to the telomere, and a catalytic subunit (hTERT) with reverse transcriptase activity, which adds a specific DNA (deoxyribonucleic acid) sequence to the chromosome ends. Using its nucleic acid chemistry, the Company designed imetelstat to be an oligonucleotide that targets and binds with high affinity to the active site of telomerase, thereby directly inhibiting telomerase activity and impeding malignant cell proliferation.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.