Cerus (NASDAQ:CERS) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Cerus shares rose above their 200-day moving average, trading as high as $3.15 and last changing hands at $3.09. The move came with heavy volume of about 1.19 million shares.
• Analyst sentiment is mixed but improving, with BTIG Research assigning a $4.00 price target and several firms upgrading the stock, while Weiss Ratings still has a sell rating. Overall, MarketBeat data shows an average rating of “Hold.”
• Recent earnings beat expectations, as Cerus reported a smaller-than-expected loss of $0.01 per share on revenue of $59.89 million, above consensus estimates. The company also saw notable insider selling in late June, largely tied to tax withholding on vested equity awards.

Cerus Corporation (NASDAQ:CERS - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.34 and traded as high as $3.15. Cerus shares last traded at $3.09, with a volume of 1,192,855 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CERS shares. Weiss Ratings restated a "sell (d-)" rating on shares of Cerus in a research note on Thursday, June 18th. Wall Street Zen upgraded Cerus from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Zacks Research upgraded Cerus from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 30th. Finally, BTIG Research raised Cerus from a "neutral" rating to a "buy" rating and set a $4.00 price target for the company in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cerus presently has an average rating of "Hold" and an average price target of $4.00.

Cerus Price Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.06 and a current ratio of 1.63. The firm has a market cap of $619.14 million, a price-to-earnings ratio of -61.80 and a beta of 1.77. The stock's 50 day simple moving average is $2.76 and its 200-day simple moving average is $2.34.

Cerus (NASDAQ:CERS - Get Free Report) last posted 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. The business had revenue of $59.89 million during the quarter, compared to the consensus estimate of $55.68 million. Cerus had a negative net margin of 4.41% and a negative return on equity of 15.18%. Equities research analysts anticipate that Cerus Corporation will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Cerus news, COO Vivek K. Jayaraman sold 42,359 shares of Cerus stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $2.94, for a total transaction of $124,535.46. Following the completion of the sale, the chief operating officer owned 1,694,348 shares of the company's stock, valued at approximately $4,981,383.12. The trade was a 2.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Chrystal Jensen sold 24,329 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $2.94, for a total value of $71,527.26. Following the sale, the insider owned 966,657 shares in the company, valued at approximately $2,841,971.58. The trade was a 2.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 256,071 shares of company stock worth $747,894 over the last three months. Corporate insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On Cerus

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC boosted its position in Cerus by 291.6% in the first quarter. AQR Capital Management LLC now owns 1,429,062 shares of the biotechnology company's stock valued at $1,986,000 after buying an additional 1,064,133 shares during the last quarter. Kotler Kevin purchased a new position in Cerus during the 4th quarter worth approximately $2,084,000. UBS Group AG raised its position in Cerus by 227.1% during the 4th quarter. UBS Group AG now owns 1,142,502 shares of the biotechnology company's stock worth $2,354,000 after buying an additional 793,244 shares during the last quarter. Globeflex Capital L P acquired a new stake in Cerus during the 4th quarter valued at approximately $1,076,000. Finally, Millennium Management LLC lifted its stake in Cerus by 17.6% during the 3rd quarter. Millennium Management LLC now owns 3,470,062 shares of the biotechnology company's stock valued at $5,517,000 after acquiring an additional 519,301 shares during the period. 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.

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