Vivek Jayaraman Sells 16,667 Shares of Cerus (NASDAQ:CERS) Stock

Cerus Corporation (NASDAQ:CERS) COO Vivek Jayaraman sold 16,667 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $3.00, for a total transaction of $50,001.00. Following the completion of the sale, the chief operating officer owned 1,656,707 shares in the company, valued at approximately $4,970,121. The trade was a 1.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cerus Stock Down 1.5%

Shares of CERS stock opened at $2.66 on Thursday. The stock has a market cap of $532.98 million, a P/E ratio of -53.20 and a beta of 1.77. Cerus Corporation has a 52 week low of $1.15 and a 52 week high of $3.15. The company has a quick ratio of 1.06, a current ratio of 1.63 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $2.24 and its two-hundred day simple moving average is $2.16.

Cerus (NASDAQ:CERS) last announced its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. The business had revenue of $59.89 million for the quarter, compared to analysts’ expectations of $55.68 million. Cerus had a negative net margin of 4.41% and a negative return on equity of 15.18%. Analysts predict that Cerus Corporation will post -0.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. BTIG Research upgraded shares of Cerus from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Friday, May 1st. Zacks Research upgraded shares of Cerus from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Cerus in a research report on Wednesday, March 25th. Finally, Wall Street Zen upgraded shares of Cerus from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.00.

Hedge Funds Weigh In On Cerus

Hedge funds have recently added to or reduced their stakes in the company. Cibc World Markets Corp bought a new position in Cerus during the 4th quarter valued at about $25,000. MML Investors Services LLC bought a new position in Cerus during the 4th quarter valued at about $37,000. Caitong International Asset Management Co. Ltd grew its holdings in Cerus by 68.4% during 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 during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Cerus during the 1st quarter valued at about $35,000. Finally, Bingham Private Wealth LLC bought a new position in Cerus during the 4th quarter valued at about $40,000. 78.37% of the stock is currently owned by institutional investors.

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.