Cerus Corporation (NASDAQ:CERS)’s share price traded down 5.3% on Monday . The company traded as low as $2.85 and last traded at $2.86. 713,507 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 891,406 shares. The stock had previously closed at $3.02.
A number of equities analysts have recently weighed in on the stock. Cowen and Company set a $6.00 price objective on shares of Cerus Corporation and gave the company a “buy” rating in a research report on Thursday, October 5th. BidaskClub raised shares of Cerus Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Zacks Investment Research lowered shares of Cerus Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, ValuEngine lowered shares of Cerus Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 17th. Three analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $7.00.
The stock’s 50 day moving average price is $2.64 and its 200-day moving average price is $2.89. The company’s market capitalization is $317.59 million.
Cerus Corporation (NASDAQ:CERS) last issued its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). The firm had revenue of $9.53 million for the quarter, compared to analyst estimates of $9.14 million. Cerus Corporation had a negative net margin of 164.39% and a negative return on equity of 120.31%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) earnings per share. Analysts anticipate that Cerus Corporation will post ($0.64) EPS for the current year.
In other Cerus Corporation news, insider Laurence M. Corash acquired 92,796 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $2.45 per share, with a total value of $227,350.20. Following the completion of the transaction, the insider now owns 1,375,711 shares in the company, valued at $3,370,491.95. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 7.40% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in Cerus Corporation during the first quarter valued at approximately $137,000. First Manhattan Co. raised its position in Cerus Corporation by 31.3% during the second quarter. First Manhattan Co. now owns 42,000 shares of the biotechnology company’s stock valued at $105,000 after acquiring an additional 10,000 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in Cerus Corporation by 59.3% during the second quarter. UBS Asset Management Americas Inc. now owns 48,377 shares of the biotechnology company’s stock valued at $121,000 after acquiring an additional 18,000 shares in the last quarter. Voya Investment Management LLC raised its position in Cerus Corporation by 22.0% during the second quarter. Voya Investment Management LLC now owns 58,633 shares of the biotechnology company’s stock valued at $147,000 after acquiring an additional 10,570 shares in the last quarter. Finally, American International Group Inc. raised its position in Cerus Corporation by 7.1% during the first quarter. American International Group Inc. now owns 62,374 shares of the biotechnology company’s stock valued at $278,000 after acquiring an additional 4,127 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.
About Cerus Corporation
Cerus Corporation is a biomedical products company. The Company is engaged in developing and commercializing the INTERCEPT Blood System for blood safety. The Company operates through blood safety segment. The Company’s INTERCEPT Blood System is based on its technology for controlling biological replication, and is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.
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