Cerus (NASDAQ:CERS) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Cerus (NASDAQ:CERS) from a hold rating to a strong sell rating in a research report released on Thursday,Zacks.com reports.

Several other research firms have also weighed in on CERS. Wall Street Zen lowered Cerus from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. TD Cowen restated a “buy” rating on shares of Cerus in a research report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Cerus Price Performance

Shares of CERS stock opened at $1.69 on Thursday. The firm’s 50 day moving average price is $2.29 and its two-hundred day moving average price is $1.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.73. Cerus has a 52-week low of $1.12 and a 52-week high of $2.96. The stock has a market cap of $324.77 million, a PE ratio of -21.13 and a beta of 1.51.

Cerus (NASDAQ:CERS) last issued its earnings results on Monday, March 2nd. The biotechnology company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $64.58 million during the quarter, compared to analysts’ expectations of $59.31 million. Cerus had a negative net margin of 7.58% and a negative return on equity of 26.09%. As a group, analysts forecast that Cerus will post -0.08 EPS for the current year.

Insider Buying and Selling

In other Cerus news, insider Chrystal Jensen sold 30,845 shares of Cerus stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $2.01, for a total transaction of $61,998.45. Following the transaction, the insider directly owned 1,059,139 shares in the company, valued at approximately $2,128,869.39. The trade was a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Mariner Greenman sold 78,187 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $2.01, for a total value of $157,155.87. Following the completion of the transaction, the chief executive officer directly owned 5,446,250 shares of the company’s stock, valued at approximately $10,946,962.50. The trade was a 1.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 352,041 shares of company stock worth $708,170 over the last ninety days. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Cerus

A number of hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC lifted its holdings in shares of Cerus by 152.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 104,101 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 62,854 shares in the last quarter. AQR Capital Management LLC increased its stake in Cerus by 291.6% during the 1st quarter. AQR Capital Management LLC now owns 1,429,062 shares of the biotechnology company’s stock worth $1,986,000 after purchasing an additional 1,064,133 shares in the last quarter. Millennium Management LLC raised its holdings in Cerus by 12.0% during the 1st quarter. Millennium Management LLC now owns 3,222,327 shares of the biotechnology company’s stock worth $4,479,000 after buying an additional 344,395 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Cerus during the 1st quarter worth approximately $32,000. Finally, Savant Capital LLC lifted its stake in Cerus by 339.6% in the second quarter. Savant Capital LLC now owns 94,812 shares of the biotechnology company’s stock valued at $134,000 after buying an additional 73,244 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company’s stock.

About Cerus

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.