Kevin Dennis Green Sells 33,676 Shares of Cerus (NASDAQ:CERS) Stock

Cerus Corporation (NASDAQ:CERS) CFO Kevin Dennis Green sold 33,676 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $2.94, for a total value of $99,007.44. Following the transaction, the chief financial officer owned 1,062,188 shares of the company’s stock, valued at $3,122,832.72. This represents a 3.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Cerus Stock Performance

NASDAQ:CERS opened at $3.16 on Friday. 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 Corporation has a 1 year low of $1.15 and a 1 year high of $3.21. The stock’s 50 day simple moving average is $2.61 and its two-hundred day simple moving average is $2.30. The company has a market cap of $633.17 million, a price-to-earnings ratio of -63.20 and a beta of 1.77.

Cerus (NASDAQ:CERS) last issued its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.01) earnings per share (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 return on equity of 15.18% and a negative net margin of 4.41%. As a group, equities analysts anticipate that Cerus Corporation will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Zacks Research raised shares of Cerus from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 30th. BTIG Research raised shares of Cerus from a “neutral” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Friday, May 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Cerus in a report on Thursday, June 18th. 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 research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.00.

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.