BlackRock Inc. Invests $64.87 Million in Cerus Corporation $CERS

Key Points

• BlackRock acquired 22.2 million Cerus shares worth approximately $64.9 million, giving it an 11.02% stake. Institutional investors and hedge funds collectively own 78.37% of CERS.
• Analyst sentiment is mixed: Cerus has a consensus “Hold” rating and a $5.25 target price, with ratings ranging from “Sell” to “Buy.”
• Cerus reported quarterly revenue of $63.3 million and adjusted earnings in line with expectations, while insiders sold 252,737 shares worth $737,292 over the past 90 days.

BlackRock Inc. bought a new position in shares of Cerus Corporation (NASDAQ:CERS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,215,127 shares of the biotechnology company's stock, valued at approximately $64,868,000. BlackRock Inc. owned about 11.02% of Cerus at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC increased 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 grew its position in Cerus by 291.6% during 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 period. Millennium Management LLC grew its position in Cerus by 12.0% during the first quarter. Millennium Management LLC now owns 3,222,327 shares of the biotechnology company's stock valued at $4,479,000 after buying an additional 344,395 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Cerus in the first quarter valued at $32,000. Finally, Rhumbline Advisers increased its holdings in Cerus by 6.8% in the second quarter. Rhumbline Advisers now owns 268,946 shares of the biotechnology company's stock valued at $379,000 after buying an additional 17,039 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CERS. Wall Street Zen downgraded Cerus from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cerus in a research note on Thursday, June 18th. Finally, Freedom Broker assumed coverage on shares of Cerus in a report on Thursday, August 20th. They issued a "buy" rating and a $6.50 price target for the company. Three equities research 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 has a consensus rating of "Hold" and a consensus target price of $5.25.

Insider Activity at Cerus

In other Cerus news, insider Chrystal Jensen sold 30,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $2.98, for a total transaction of $89,400.00. Following the completion of the transaction, the insider owned 936,657 shares in the company, valued at $2,791,237.86. The trade was a 3.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin Dennis Green sold 33,676 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $2.94, for a total value of $99,007.44. Following the completion of 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 position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 252,737 shares of company stock worth $737,292 over the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

Cerus Price Performance

Shares of CERS opened at $2.65 on Monday. Cerus Corporation has a 52-week low of $1.17 and a 52-week high of $3.47. 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 fifty day simple moving average of $2.84 and a two-hundred day simple moving average of $2.46. The company has a market capitalization of $534.04 million, a PE ratio of -88.33 and a beta of 1.81.

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

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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