Connor Clark & Lunn Investment Management Ltd. Invests $1.37 Million in Cerus Corporation $CERS

Key Points

• Connor Clark & Lunn Investment Management acquired 469,918 Cerus shares worth approximately $1.37 million, while other institutional investors—including BlackRock and AQR Capital Management—also increased or initiated positions. Institutions collectively own 78.37% of the company.
• Cerus shares were trading at $2.65, down 2.6%, with the stock remaining unprofitable. The company reported quarterly revenue of $63.3 million and an EPS loss of $0.01, in line with analyst expectations.
• Analyst sentiment is mixed, with Cerus carrying a consensus “Hold” rating and an average price target of $5.25; targets range from a $6.50 “Buy” forecast to a “Sell” rating. Insiders sold shares primarily to cover tax obligations tied to vested equity awards.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Cerus Corporation (NASDAQ:CERS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 469,918 shares of the biotechnology company's stock, valued at approximately $1,372,000. Connor Clark & Lunn Investment Management Ltd. owned 0.23% of Cerus at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Cerus in the 2nd quarter valued at approximately $64,868,000. Ieq Capital LLC bought a new stake in shares of Cerus during the 2nd quarter worth approximately $7,026,000. AQR Capital Management LLC raised 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 worth $1,986,000 after acquiring an additional 1,064,133 shares in the last quarter. Kotler Kevin acquired a new stake in Cerus in the 4th quarter valued at about $2,084,000. Finally, UBS Group AG boosted its stake in shares of 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 acquiring an additional 793,244 shares during the period. Institutional investors own 78.37% of the company's stock.

Cerus Trading Down 2.6%

NASDAQ:CERS opened at $2.65 on Friday. The firm has a fifty day simple moving average of $2.84 and a two-hundred day simple moving average of $2.46. The stock has a market capitalization of $534.03 million, a price-to-earnings ratio of -88.33 and a beta of 1.81. The company has a current ratio of 1.83, a quick ratio of 1.07 and a debt-to-equity ratio of 0.49. Cerus Corporation has a 12 month low of $1.17 and a 12 month high of $3.47.

Cerus (NASDAQ:CERS - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The biotechnology company reported ($0.01) EPS for the quarter, meeting analysts' consensus estimates of ($0.01). The firm had revenue of $63.30 million during the quarter, compared to analysts' expectations of $62.90 million. Cerus had a negative return on equity of 10.19% and a negative net margin of 3.06%. Analysts expect that Cerus Corporation will post -0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Cerus in a report on Thursday, June 18th. Freedom Broker assumed coverage on shares of Cerus in a research note on Thursday, August 20th. They issued a "buy" rating and a $6.50 price target on the stock. Finally, Wall Street Zen downgraded Cerus from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $5.25.

Insider Activity

In related news, COO Vivek K. Jayaraman sold 42,359 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $2.94, for a total transaction of $124,535.46. Following the transaction, the chief operating officer directly owned 1,694,348 shares of the company's stock, valued at $4,981,383.12. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Mariner Greenman sold 101,919 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $2.94, for a total value of $299,641.86. Following the completion of the transaction, the chief executive officer owned 5,053,036 shares in the company, valued at $14,855,925.84. The trade was a 1.98% 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. In the last three months, insiders sold 252,737 shares of company stock worth $737,292. Company insiders own 5.30% of the company's stock.

Cerus 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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