Elk Creek Partners LLC Buys 1,402,106 Shares of Cerus Corporation (CERS)
Elk Creek Partners LLC lifted its stake in Cerus Corporation (NASDAQ:CERS) by 32.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,739,285 shares of the biotechnology company’s stock after buying an additional 1,402,106 shares during the period. Elk Creek Partners LLC owned about 5.52% of Cerus Corporation worth $14,406,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Teachers Advisors LLC grew its position in Cerus Corporation by 0.4% during the 4th quarter. Teachers Advisors LLC now owns 269,964 shares of the biotechnology company’s stock worth $1,174,000 after acquiring an additional 1,152 shares during the last quarter. Stephens Inc. AR grew its position in Cerus Corporation by 0.3% during the 1st quarter. Stephens Inc. AR now owns 950,729 shares of the biotechnology company’s stock worth $4,231,000 after acquiring an additional 2,539 shares during the last quarter. American International Group Inc. grew its position in Cerus Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 62,374 shares of the biotechnology company’s stock worth $278,000 after acquiring an additional 4,127 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position in Cerus Corporation by 7.9% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 81,132 shares of the biotechnology company’s stock worth $361,000 after acquiring an additional 5,920 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Cerus Corporation by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 505,652 shares of the biotechnology company’s stock worth $2,250,000 after acquiring an additional 6,710 shares during the last quarter. 58.74% of the stock is owned by institutional investors and hedge funds.
Cerus Corporation (NASDAQ:CERS) traded down 1.13% on Friday, hitting $2.63. The stock had a trading volume of 1,218,505 shares. The company’s 50 day moving average is $2.49 and its 200-day moving average is $3.08. Cerus Corporation has a 1-year low of $1.93 and a 1-year high of $6.59. The firm’s market capitalization is $287.03 million.
Cerus Corporation (NASDAQ:CERS) last issued its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). Cerus Corporation had a negative net margin of 164.39% and a negative return on equity of 120.31%. The company had revenue of $9.53 million for the quarter, compared to analysts’ expectations of $9.14 million. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. Cerus Corporation’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts forecast that Cerus Corporation will post ($0.68) EPS for the current year.
A number of research analysts have commented on the company. Cantor Fitzgerald set a $7.00 price objective on Cerus Corporation and gave the company a “buy” rating in a research report on Tuesday, May 23rd. BTIG Research reiterated a “buy” rating and issued a $5.00 price objective on shares of Cerus Corporation in a research report on Sunday, May 28th. BidaskClub upgraded Cerus Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Zacks Investment Research upgraded Cerus Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, ValuEngine lowered Cerus Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Cerus Corporation presently has an average rating of “Hold” and an average price target of $7.25.
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In other Cerus Corporation news, insider Laurence M. Corash acquired 92,796 shares of Cerus Corporation stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $2.45 per share, with a total value of $227,350.20. Following the completion of the purchase, the insider now directly owns 1,375,711 shares in the company, valued at approximately $3,370,491.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.40% of the company’s stock.
Cerus Corporation Company Profile
Cerus Corporation is a biomedical products company. The Company is engaged in developing and commercializing the INTERCEPT Blood System for blood safety. The Company operates through blood safety segment. The Company’s INTERCEPT Blood System is based on its technology for controlling biological replication, and is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.
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