Shares of Geron Corporation (GERN) tumbled 5.50% in the latest trading session, as investors reacted to the company's mixed third-quarter earnings report. The biotechnology firm met analysts' expectations on earnings per share but fell short on revenue projections, leading to a sell-off in the stock.

According to the earnings summary, Geron reported a quarterly adjusted loss of 3 cents per share, in line with the mean expectation of nine analysts. However, the company's revenue of $47.23 million, while representing a 67.1% increase year-over-year, missed the Street's forecast of $52.88 million. This revenue miss appears to have been a key factor in the stock's decline.

The negative sentiment was further exacerbated by the company's year-to-date performance, with shares having lost 67.5% of their value. Additionally, analysts have been revising their earnings estimates downward, with the mean earnings estimate falling by about 15.8% over the last three months. Despite these challenges, Wall Street maintains a largely positive outlook on Geron, with a median 12-month price target of $4.00, suggesting significant upside potential from current levels. However, investors seem to be focusing on the near-term headwinds, as reflected in the stock's sharp decline following the earnings release.