Connor Clark & Lunn Investment Management Ltd. Acquires 97,592 Shares of Cerus Corporation $CERS

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Cerus Corporation (NASDAQ:CERS) by 49.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 296,099 shares of the biotechnology company’s stock after acquiring an additional 97,592 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.15% of Cerus worth $418,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted 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 purchasing an additional 1,064,133 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Cerus by 112.5% during the 1st quarter. Acadian Asset Management LLC now owns 1,898,621 shares of the biotechnology company’s stock worth $2,637,000 after buying an additional 1,005,079 shares during the last quarter. Nuveen LLC bought a new stake in shares of Cerus during the 1st quarter worth about $643,000. Millennium Management LLC grew its stake in Cerus by 12.0% in the 1st 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 last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Cerus by 140.2% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 367,525 shares of the biotechnology company’s stock valued at $518,000 after acquiring an additional 214,515 shares during the period. Institutional investors and hedge funds own 78.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CERS shares. Wall Street Zen upgraded Cerus from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cerus in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cerus currently has a consensus rating of “Hold” and an average target price of $4.00.

Cerus Stock Performance

NASDAQ CERS opened at $1.49 on Friday. The firm has a 50-day moving average price of $1.52 and a two-hundred day moving average price of $1.40. Cerus Corporation has a 12-month low of $1.12 and a 12-month high of $2.24. The company has a market capitalization of $286.21 million, a P/E ratio of -14.90 and a beta of 1.67. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 1.01.

Cerus (NASDAQ:CERS) last announced its earnings results on Thursday, November 6th. The biotechnology company reported $0.00 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.02. The company had revenue of $60.24 million for the quarter, compared to analysts’ expectations of $55.12 million. Cerus had a negative net margin of 9.81% and a negative return on equity of 33.77%. Cerus has set its FY 2025 guidance at EPS. Analysts anticipate that Cerus Corporation will post -0.08 earnings per share for the current year.

Cerus Profile

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.