Bank of America Corp DE Decreases Position in Cerus Co. (NASDAQ:CERS)

Bank of America Corp DE reduced its stake in shares of Cerus Co. (NASDAQ:CERS) by 94.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 124,042 shares of the biotechnology company’s stock after selling 2,238,388 shares during the quarter. Bank of America Corp DE owned 0.07% of Cerus worth $191,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CERS. ARK Investment Management LLC increased its stake in Cerus by 14.2% during the 4th quarter. ARK Investment Management LLC now owns 20,814,752 shares of the biotechnology company’s stock worth $32,055,000 after buying an additional 2,589,721 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Cerus during the fourth quarter worth about $81,000. Raymond James Financial Inc. acquired a new position in shares of Cerus in the fourth quarter worth about $376,000. Virtu Financial LLC purchased a new position in Cerus in the fourth quarter valued at about $33,000. Finally, Cibc World Markets Corp acquired a new stake in Cerus during the 4th quarter valued at approximately $26,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $4.00 target price on shares of Cerus in a research report on Friday, February 21st.

Cerus Price Performance

Shares of CERS stock opened at $1.32 on Monday. The firm has a market cap of $252.33 million, a P/E ratio of -12.00 and a beta of 1.55. The firm has a fifty day moving average of $1.33 and a two-hundred day moving average of $1.54. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.59 and a quick ratio of 1.92. Cerus Co. has a 1-year low of $1.12 and a 1-year high of $2.54.

Cerus (NASDAQ:CERS) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Cerus had a negative net margin of 11.60% and a negative return on equity of 40.55%. The firm had revenue of $43.24 million during the quarter, compared to the consensus estimate of $47.44 million. As a group, research analysts anticipate that Cerus Co. will post -0.08 earnings per share for the current fiscal year.

About Cerus

Cerus Corporation operates as a biomedical products company. The company focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System, a proprietary technology for controlling biological replication that is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.