Cerus (NASDAQ:CERS) Stock Price Down 3.5%

Cerus Co. (NASDAQ:CERS) traded down 3.5% during mid-day trading on Wednesday . The company traded as low as $4.81 and last traded at $4.69, 124,674 shares traded hands during mid-day trading. A decline of 82% from the average session volume of 693,631 shares. The stock had previously closed at $4.86.

A number of research analysts have issued reports on the stock. Stephens assumed coverage on shares of Cerus in a report on Thursday, August 22nd. They issued an “overweight” rating and a $8.00 price target for the company. Stifel Nicolaus assumed coverage on shares of Cerus in a report on Tuesday, August 27th. They issued a “buy” rating and a $7.00 price target for the company. BidaskClub cut shares of Cerus from a “hold” rating to a “sell” rating in a report on Friday. ValuEngine raised shares of Cerus from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research raised shares of Cerus from a “sell” rating to a “hold” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $7.63.

The stock’s fifty day simple moving average is $5.21 and its 200-day simple moving average is $5.48. The firm has a market cap of $681.96 million, a PE ratio of -10.45 and a beta of 1.64. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.67 and a quick ratio of 2.33.

Cerus (NASDAQ:CERS) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.01). The company had revenue of $18.20 million during the quarter, compared to analysts’ expectations of $17.55 million. Cerus had a negative return on equity of 85.73% and a negative net margin of 98.69%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) EPS. Analysts expect that Cerus Co. will post -0.48 earnings per share for the current year.

In related news, insider Richard J. Benjamin sold 16,444 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $5.01, for a total transaction of $82,384.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carol Moore sold 30,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $159,900.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,903 shares of company stock valued at $394,513. 7.26% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. raised its holdings in shares of Cerus by 18.2% during the second quarter. Macquarie Group Ltd. now owns 209,426 shares of the biotechnology company’s stock worth $1,177,000 after purchasing an additional 32,257 shares during the last quarter. River & Mercantile Asset Management LLP purchased a new position in shares of Cerus during the second quarter worth $1,802,000. Colony Group LLC purchased a new position in shares of Cerus during the second quarter worth $501,000. Primecap Management Co. CA increased its holdings in Cerus by 4.6% in the second quarter. Primecap Management Co. CA now owns 11,300,000 shares of the biotechnology company’s stock valued at $63,506,000 after buying an additional 500,000 shares in the last quarter. Finally, Bamco Inc. NY increased its holdings in Cerus by 11.6% in the second quarter. Bamco Inc. NY now owns 1,830,000 shares of the biotechnology company’s stock valued at $10,285,000 after buying an additional 190,591 shares in the last quarter. 72.94% of the stock is owned by hedge funds and other institutional investors.

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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