Bank of New York Mellon Corp Invests $1.64 Million in Cerus Corporation $CERS

Key Points

• Bank of New York Mellon purchased 559,834 Cerus shares worth approximately $1.64 million, while institutional investors collectively own 78.37% of the company.
• Cerus reported quarterly revenue of $63.3 million and adjusted earnings of a $0.01-per-share loss, in line with analyst expectations. The company remains unprofitable, with a negative net margin of 3.06%.
• Analyst sentiment is mixed: Cerus has a consensus rating of Hold and an average price target of $5.25, despite one analyst initiating coverage with a $6.50 Buy target.

Bank of New York Mellon Corp purchased a new position in shares of Cerus Corporation (NASDAQ:CERS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 559,834 shares of the biotechnology company's stock, valued at approximately $1,635,000. Bank of New York Mellon Corp owned 0.28% of Cerus as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cibc World Markets Corp acquired a new position in Cerus in the 4th quarter valued at approximately $25,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Cerus during the 3rd quarter valued at $31,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Cerus during the 1st quarter valued at $32,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Cerus during the 1st quarter valued at $35,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of Cerus in the third quarter worth $35,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cerus

In other Cerus news, CFO Kevin Green sold 33,676 shares of the firm's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $2.94, for a total transaction of $99,007.44. Following the transaction, the chief financial officer directly owned 1,062,188 shares in the company, valued at $3,122,832.72. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Chrystal Jensen sold 30,000 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $2.98, for a total value of $89,400.00. Following the sale, the insider owned 936,657 shares of the company's stock, valued at approximately $2,791,237.86. This trade represents a 3.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 232,283 shares of company stock valued at $684,112. Company insiders own 5.30% of the company's stock.

Cerus Price Performance

NASDAQ CERS opened at $2.54 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.83 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $511.86 million, a PE ratio of -84.67 and a beta of 1.80. Cerus Corporation has a 12-month low of $1.17 and a 12-month high of $3.47. The company has a 50 day moving average price of $2.81 and a two-hundred day moving average price of $2.47.

Cerus (NASDAQ:CERS - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The biotechnology company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $63.30 million for the quarter, compared to analyst estimates of $62.90 million. Cerus had a negative net margin of 3.06% and a negative return on equity of 10.19%. As a group, equities analysts predict that Cerus Corporation will post -0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on CERS shares. Freedom Broker started coverage on Cerus in a report on Thursday, August 20th. They set a "buy" rating and a $6.50 price objective for the company. Wall Street Zen upgraded Cerus from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cerus in a research report on Thursday, June 18th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cerus currently has a consensus rating of "Hold" and an average target price of $5.25.

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.

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