Key Points
- Cerus COO Vivek Jayaraman sold 16,667 shares on May 29 at an average price of $3.00, totaling $50,001. After the sale, he still directly owned 1,656,707 shares.
- Cerus shares fell 4.9% and opened at $2.70, near the lower end of its 12-month range of $1.15 to $3.15. The company has a market cap of about $541 million.
- Recent earnings topped expectations, with Cerus reporting a Q1 EPS loss of $0.01 versus analyst estimates for a $0.03 loss and revenue of $59.89 million, above forecasts. Analysts currently have a consensus rating of Hold with a $4.00 price target.
Cerus Corporation (NASDAQ:CERS - Get Free Report) COO Vivek Jayaraman sold 16,667 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $3.00, for a total transaction of $50,001.00. Following the completion of the transaction, the chief operating officer directly owned 1,656,707 shares of the company's stock, valued at approximately $4,970,121. The trade was a 1.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Cerus Stock Down 4.9%
Shares of NASDAQ:CERS opened at $2.70 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.06 and a debt-to-equity ratio of 0.47. Cerus Corporation has a 12 month low of $1.15 and a 12 month high of $3.15. The company has a 50-day moving average price of $2.21 and a 200 day moving average price of $2.14. The company has a market cap of $541.00 million, a price-to-earnings ratio of -54.00 and a beta of 1.76.
Cerus (NASDAQ:CERS - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.02. Cerus had a negative net margin of 4.41% and a negative return on equity of 15.18%. The firm had revenue of $59.89 million during the quarter, compared to the consensus estimate of $55.68 million. As a group, equities research analysts predict that Cerus Corporation will post -0.02 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Cibc World Markets Corp purchased a new position in Cerus during the 4th quarter valued at about $25,000. MML Investors Services LLC bought a new stake in shares of Cerus in the 4th quarter valued at about $37,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Cerus by 68.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 18,712 shares of the biotechnology company's stock valued at $39,000 after purchasing an additional 7,603 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Cerus in the 1st quarter valued at about $35,000. Finally, Bingham Private Wealth LLC bought a new stake in shares of Cerus in the 4th quarter valued at about $40,000. 78.37% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on CERS. Weiss Ratings reissued a "sell (d-)" rating on shares of Cerus in a research note on Wednesday, March 25th. BTIG Research raised shares of Cerus from a "neutral" rating to a "buy" rating and set a $4.00 target price on the stock in a research note on Friday, May 1st. Wall Street Zen raised shares of Cerus from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, Zacks Research raised shares of Cerus from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $4.00.
Get Our Latest Stock Analysis on CERS
About Cerus
(
Get Free Report)
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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