Cerus (NASDAQ:CERS) Stock Price Down 7.6%

Cerus Co. (NASDAQ:CERS)’s share price dropped 7.6% on Tuesday . The stock traded as low as $4.12 and last traded at $4.15, approximately 1,518,336 shares changed hands during trading. An increase of 14% from the average daily volume of 1,327,107 shares. The stock had previously closed at $4.49.

A number of research analysts recently issued reports on the stock. BTIG Research upgraded shares of Cerus from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Wednesday, November 13th. Zacks Investment Research lowered shares of Cerus from a “hold” rating to a “sell” rating in a report on Wednesday, January 22nd. ValuEngine raised shares of Cerus from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Finally, BidaskClub cut shares of Cerus from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Cerus presently has a consensus rating of “Hold” and an average target price of $7.13.

The business has a 50 day simple moving average of $4.27 and a 200-day simple moving average of $4.75. The stock has a market capitalization of $632.70 million, a price-to-earnings ratio of -7.98 and a beta of 1.62. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.77 and a quick ratio of 2.31.

Cerus (NASDAQ:CERS) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.01). Cerus had a negative return on equity of 100.59% and a negative net margin of 100.38%. The business had revenue of $18.00 million for the quarter, compared to analyst estimates of $17.69 million. During the same period in the prior year, the business earned ($0.11) EPS. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. As a group, equities analysts predict that Cerus Co. will post -0.51 earnings per share for the current year.

In related news, Director Gail Schulze sold 15,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $4.19, for a total transaction of $62,850.00. Following the completion of the sale, the director now directly owns 40,986 shares of the company’s stock, valued at approximately $171,731.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 7.26% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jefferies Group LLC acquired a new position in Cerus in the 2nd quarter worth $75,000. Exchange Traded Concepts LLC bought a new position in Cerus during the 4th quarter worth about $57,000. Jane Street Group LLC bought a new position in Cerus during the 2nd quarter worth about $93,000. Alpine Global Management LLC acquired a new stake in shares of Cerus in the 4th quarter valued at about $78,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Cerus by 1,108.9% in the second quarter. Cubist Systematic Strategies LLC now owns 20,551 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 18,851 shares in the last quarter. 75.21% of the stock is currently owned by institutional investors and hedge funds.

Cerus Company Profile (NASDAQ:CERS)

Cerus Corporation, a biomedical products company, focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System, a proprietary technology for controlling biological replication that is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.

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