Shares of Cerus Corporation (NASDAQ:CERS – Get Free Report) traded up 9.3% during mid-day trading on Monday . The company traded as high as $3.44 and last traded at $3.4550. Approximately 1,739,478 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 2,123,964 shares. The stock had previously closed at $3.16.
Wall Street Analyst Weigh In
CERS has been the topic of several recent analyst reports. Wall Street Zen raised Cerus from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. BTIG Research upgraded shares of Cerus from a “neutral” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Friday, May 1st. Zacks Research raised shares of Cerus from a “strong sell” rating to a “hold” rating in a report on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cerus in a research report on Thursday, June 18th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $4.00.
Read Our Latest Research Report on CERS
Cerus Price Performance
Cerus (NASDAQ:CERS – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $59.89 million for the quarter, compared to analyst estimates of $55.68 million. Cerus had a negative net margin of 4.41% and a negative return on equity of 15.18%. As a group, analysts forecast that Cerus Corporation will post -0.02 EPS for the current year.
Insiders Place Their Bets
In related news, insider Chrystal Jensen sold 24,329 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $2.94, for a total value of $71,527.26. Following the completion of the transaction, the insider owned 966,657 shares in the company, valued at $2,841,971.58. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Vivek K. Jayaraman sold 42,359 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $2.94, for a total value of $124,535.46. Following the sale, the chief operating officer owned 1,694,348 shares in the company, valued at approximately $4,981,383.12. The trade was a 2.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 256,071 shares of company stock worth $747,894 over the last three months. Company insiders own 3.40% of the company’s stock.
Institutional Investors Weigh In On Cerus
Large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC grew its position in Cerus by 152.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 104,101 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 62,854 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Cerus by 291.6% in the first quarter. AQR Capital Management LLC now owns 1,429,062 shares of the biotechnology company’s stock valued at $1,986,000 after purchasing an additional 1,064,133 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Cerus by 12.0% in the first quarter. Millennium Management LLC now owns 3,222,327 shares of the biotechnology company’s stock valued at $4,479,000 after purchasing an additional 344,395 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cerus in the first quarter worth $32,000. Finally, Rhumbline Advisers boosted its position in shares of Cerus by 6.8% in the second quarter. Rhumbline Advisers now owns 268,946 shares of the biotechnology company’s stock worth $379,000 after buying an additional 17,039 shares during the period. Institutional investors and hedge funds own 78.37% of the company’s stock.
Cerus Company Profile
Cerus Corporation is a biomedical products company dedicated to enhancing the safety of blood transfusions worldwide. Its flagship offering, the INTERCEPT Blood System, employs pathogen reduction technology designed to inactivate a broad spectrum of viruses, bacteria, and parasites in donated platelets and plasma. This approach aims to mitigate the risk of transfusion-transmitted infections and improve blood component safety for patients.
The INTERCEPT platform integrates seamlessly into existing blood center workflows, providing a one-step treatment process for collected blood products.
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