ARK Investment Management LLC Lowers Position in Cerus Corporation $CERS

ARK Investment Management LLC trimmed its stake in shares of Cerus Corporation (NASDAQ:CERS) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,850,188 shares of the biotechnology company’s stock after selling 357,416 shares during the period. ARK Investment Management LLC owned 9.83% of Cerus worth $29,972,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Cerus during the 1st quarter valued at about $32,000. HUB Investment Partners LLC purchased a new stake in shares of Cerus in the second quarter worth about $42,000. Captrust Financial Advisors boosted its stake in Cerus by 89.7% during the second quarter. Captrust Financial Advisors now owns 31,109 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 14,709 shares during the last quarter. SG Americas Securities LLC boosted its stake in Cerus by 130.3% during the third quarter. SG Americas Securities LLC now owns 40,062 shares of the biotechnology company’s stock valued at $64,000 after buying an additional 22,669 shares during the last quarter. Finally, Brevan Howard Capital Management LP grew its holdings in Cerus by 228.1% during the 2nd quarter. Brevan Howard Capital Management LP now owns 47,823 shares of the biotechnology company’s stock valued at $67,000 after buying an additional 33,249 shares in the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Cerus Price Performance

NASDAQ:CERS opened at $2.24 on Thursday. The firm has a market capitalization of $430.46 million, a price-to-earnings ratio of -28.00 and a beta of 1.51. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.73 and a quick ratio of 1.29. The business has a 50 day simple moving average of $2.32 and a 200-day simple moving average of $1.84. Cerus Corporation has a 1 year low of $1.12 and a 1 year high of $2.95.

Cerus (NASDAQ:CERS) last released its quarterly earnings results on Monday, March 2nd. The biotechnology company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $64.58 million for the quarter, compared to analyst estimates of $59.31 million. Cerus had a negative return on equity of 26.09% and a negative net margin of 7.58%. Equities analysts forecast that Cerus Corporation will post -0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

CERS has been the topic of several recent research reports. TD Cowen reaffirmed a “buy” rating on shares of Cerus in a report on Monday, January 12th. Wall Street Zen upgraded shares of Cerus from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

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.