Cerus (NASDAQ:CERS) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Cerus Corporation (NASDAQ:CERS)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.24 and traded as high as $2.69. Cerus shares last traded at $2.60, with a volume of 1,935,003 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CERS shares. Zacks Research upgraded shares of Cerus from a “strong sell” rating to a “hold” rating in a report on Thursday, April 30th. Wall Street Zen upgraded Cerus from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. BTIG Research raised Cerus from a “neutral” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Friday, May 1st. Finally, Weiss Ratings restated 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.00.

Cerus Trading Up 1.9%

The company has a market cap of $528.98 million, a PE ratio of -52.80 and a beta of 1.77. The company’s 50 day simple moving average is $2.47 and its two-hundred day simple moving average is $2.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.63 and a quick ratio of 1.06.

Cerus (NASDAQ:CERS) last issued its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.01) EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $55.68 million. As a group, sell-side analysts anticipate that Cerus Corporation will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling at Cerus

In other news, Director Eric Bjerkholt sold 20,454 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $2.60, for a total transaction of $53,180.40. Following the completion of the transaction, the director directly owned 261,679 shares in the company, valued at $680,365.40. This trade represents a 7.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Vivek K. Jayaraman sold 16,667 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $3.00, for a total value of $50,001.00. Following the completion of the sale, the chief operating officer owned 1,656,707 shares in the company, valued at $4,970,121. This represents a 1.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 53,788 shares of company stock valued at $153,182. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Cerus

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Cerus by 0.6% in the third quarter. Vanguard Group Inc. now owns 10,783,986 shares of the biotechnology company’s stock valued at $17,147,000 after purchasing an additional 62,663 shares during the period. Wasatch Advisors LP lifted its holdings in Cerus by 2.6% during the 2nd quarter. Wasatch Advisors LP now owns 8,533,758 shares of the biotechnology company’s stock worth $12,033,000 after buying an additional 213,917 shares in the last quarter. Senvest Management LLC lifted its holdings in Cerus by 3.8% during the 1st quarter. Senvest Management LLC now owns 4,114,061 shares of the biotechnology company’s stock worth $7,488,000 after buying an additional 148,812 shares in the last quarter. Millennium Management LLC boosted its position in Cerus by 17.6% in the 3rd quarter. Millennium Management LLC now owns 3,470,062 shares of the biotechnology company’s stock valued at $5,517,000 after buying an additional 519,301 shares during the period. Finally, Ieq Capital LLC grew its stake in shares of Cerus by 1.1% in the fourth quarter. Ieq Capital LLC now owns 2,423,741 shares of the biotechnology company’s stock worth $4,993,000 after acquiring an additional 25,771 shares in the last quarter. 78.37% of the stock is currently owned by hedge funds and other 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.