Amova Asset Management Americas Inc. Sells 193,353 Shares of Cerus Corporation $CERS

Amova Asset Management Americas Inc. reduced its stake in shares of Cerus Corporation (NASDAQ:CERS) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,516,606 shares of the biotechnology company’s stock after selling 193,353 shares during the period. Amova Asset Management Americas Inc. owned 2.25% of Cerus worth $8,220,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Cibc World Markets Corp bought a new position in shares of Cerus in the fourth quarter worth about $25,000. CIBC Bancorp USA Inc. bought a new stake in Cerus during the 3rd quarter valued at approximately $31,000. Dynamic Technology Lab Private Ltd bought a new stake in Cerus during the 1st quarter valued at approximately $32,000. Y Intercept Hong Kong Ltd purchased a new position in Cerus in the 1st quarter worth approximately $35,000. Finally, Aquatic Capital Management LLC purchased a new position in Cerus in the 3rd quarter worth approximately $35,000. 78.37% of the stock is currently owned by institutional investors.

Insider Activity

In other Cerus news, insider Chrystal Jensen sold 24,329 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $2.94, for a total transaction of $71,527.26. Following the sale, the insider owned 966,657 shares of the company’s stock, valued at approximately $2,841,971.58. The trade was a 2.46% decrease in their position. 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, CFO Kevin Dennis Green sold 33,676 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $2.94, for a total transaction of $99,007.44. Following the transaction, the chief financial officer owned 1,062,188 shares in the company, valued at $3,122,832.72. The trade was a 3.07% 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. Insiders sold a total of 256,071 shares of company stock worth $747,894 over the last ninety days. 5.30% of the stock is currently owned by corporate insiders.

Cerus Stock Up 0.6%

NASDAQ:CERS opened at $3.15 on Tuesday. The company has a market cap of $631.17 million, a price-to-earnings ratio of -63.00 and a beta of 1.77. Cerus Corporation has a twelve month low of $1.15 and a twelve month high of $3.47. The company has a current ratio of 1.63, a quick ratio of 1.06 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $2.81 and a 200-day simple moving average of $2.38.

Cerus (NASDAQ:CERS) last announced its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. Cerus had a negative return on equity of 15.18% and a negative net margin of 4.41%.The company had revenue of $59.89 million for the quarter, compared to analysts’ expectations of $55.68 million. Analysts anticipate that Cerus Corporation will post -0.02 EPS for the current year.

Wall Street Analyst Weigh In

CERS has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Cerus in a report on Thursday, June 18th. Zacks Research upgraded shares of Cerus from a “strong sell” rating to a “hold” rating in a report on Thursday, April 30th. BTIG Research upgraded shares of Cerus from a “neutral” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Friday, May 1st. Finally, Wall Street Zen raised shares of Cerus from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cerus currently has a consensus rating of “Hold” and an average target price of $4.00.

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.