Cerus Corporation (CERS) Stake Increased by Bank of America Corp DE
Bank of America Corp DE boosted its stake in Cerus Corporation (NASDAQ:CERS) by 6.4% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 554,756 shares of the biotechnology company’s stock after buying an additional 33,284 shares during the period. Bank of America Corp DE’s holdings in Cerus Corporation were worth $2,470,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Marathon Capital Management boosted its position in shares of Cerus Corporation by 32.4% in the first quarter. Marathon Capital Management now owns 24,500 shares of the biotechnology company’s stock valued at $109,000 after buying an additional 6,000 shares during the last quarter. Budros Ruhlin & Roe Inc. boosted its position in shares of Cerus Corporation by 41.7% in the first quarter. Budros Ruhlin & Roe Inc. now owns 25,470 shares of the biotechnology company’s stock valued at $113,000 after buying an additional 7,500 shares during the last quarter. Bellevue Group AG purchased a new position in shares of Cerus Corporation during the first quarter valued at approximately $134,000. Russell Investments Group Ltd. purchased a new position in shares of Cerus Corporation during the first quarter valued at approximately $137,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of Cerus Corporation during the fourth quarter valued at approximately $167,000. Institutional investors own 65.09% of the company’s stock.
Cerus Corporation (CERS) traded down 0.197% during mid-day trading on Thursday, hitting $2.535. 109,640 shares of the company traded hands. The company’s market capitalization is $276.66 million. Cerus Corporation has a one year low of $1.93 and a one year high of $7.19. The company’s 50-day moving average price is $2.36 and its 200 day moving average price is $3.38.
Cerus Corporation (NASDAQ:CERS) last released its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.16). Cerus Corporation had a negative return on equity of 120.31% and a negative net margin of 164.39%. The firm had revenue of $9.53 million during the quarter, compared to the consensus estimate of $9.14 million. During the same quarter in the prior year, the firm posted ($0.18) EPS. The business’s revenue was up 3.0% on a year-over-year basis. On average, analysts anticipate that Cerus Corporation will post ($0.68) earnings per share for the current fiscal year.
CERS has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $7.00 target price on shares of Cerus Corporation in a report on Wednesday, June 7th. BTIG Research restated a “buy” rating and set a $5.00 price target on shares of Cerus Corporation in a report on Sunday, May 28th. BidaskClub upgraded shares of Cerus Corporation from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Cerus Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Cowen and Company decreased their price target on shares of Cerus Corporation from $9.50 to $7.00 and set an “outperform” rating for the company in a report on Monday, April 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.25.
About Cerus Corporation
Cerus Corporation is a biomedical products company. The Company is engaged in developing and commercializing the INTERCEPT Blood System for blood safety. The Company operates through blood safety segment. The Company’s INTERCEPT Blood System is based on its technology for controlling biological replication, and is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.
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