2. Geron Corporation (NASDAQ:GERN)
Number of Hedge Fund Holders: 12
Geron Corporation (NASDAQ:GERN) is a Foster City, California-based late-stage biotech company that is focused on developing and commercializing first-in-class telomerase inhibitors in patients suffering from cancer. Telomerase is an enzyme that prevents cancer cells from shortening to the point of causing cell death.
On July 28, Kalpit Patel at B. Riley resumed coverage on Geron Corporation (NASDAQ:GERN) stock with a Buy rating and a target price of $4. The analyst has based this target price on the successful approval of imetelstat, a therapeutic aimed at treating lower-risk myelodysplastic syndrome and myelofibrosis. Patel highlighted that Geron Corporation’s (NASDAQ:GERN) stock has been able to outperform the biotech index. Furthermore, the analyst expects a key catalyst to come out in January 2023 that could result in a significant share price upside. These factors have led to the inclusion of Geron Corporation (NASDAQ:GERN) in our list of the ten best penny stocks to buy in September.
RA Capital Management was the leading hedge fund investor in Geron Corporation (NASDAQ:GERN) during Q2 2022.
