Shares of Cerus Corporation (NASDAQ:CERS) dropped 5.3% during mid-day trading on Monday . The company traded as low as $2.85 and last traded at $2.86. Approximately 713,507 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 891,406 shares. The stock had previously closed at $3.02.

CERS has been the subject of a number of research reports. ValuEngine lowered Cerus Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 17th. Cowen and Company set a $6.00 price target on Cerus Corporation and gave the company a “buy” rating in a report on Thursday. BidaskClub lowered Cerus Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, Zacks Investment Research lowered Cerus Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Three analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $7.00.

The stock’s market capitalization is $312.13 million. The stock’s 50 day moving average price is $2.63 and its 200 day moving average price is $2.90.

Cerus Corporation (NASDAQ:CERS) last issued its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.16) EPS for the quarter, meeting the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $9.14 million. During the same quarter last year, the company posted ($0.18) EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts expect that Cerus Corporation will post ($0.64) EPS for the current fiscal year.

In other Cerus Corporation news, insider Laurence M. Corash purchased 92,796 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was bought at an average price of $2.45 per share, with a total value of $227,350.20. Following the transaction, the insider now directly owns 1,375,711 shares of the company’s stock, valued at approximately $3,370,491.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of CERS. Elk Creek Partners LLC raised its holdings in shares of Cerus Corporation by 32.3% in the 2nd quarter. Elk Creek Partners LLC now owns 5,739,285 shares of the biotechnology company’s stock valued at $14,406,000 after purchasing an additional 1,402,106 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Cerus Corporation by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,892,503 shares of the biotechnology company’s stock valued at $12,281,000 after purchasing an additional 184,076 shares in the last quarter. ARK Investment Management LLC raised its holdings in shares of Cerus Corporation by 126.5% in the 2nd quarter. ARK Investment Management LLC now owns 1,680,925 shares of the biotechnology company’s stock valued at $4,219,000 after purchasing an additional 938,647 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Cerus Corporation by 3.2% in the 2nd quarter. Northern Trust Corp now owns 1,269,773 shares of the biotechnology company’s stock valued at $3,186,000 after purchasing an additional 39,684 shares in the last quarter. Finally, Stephens Inc. AR raised its holdings in shares of Cerus Corporation by 1.4% in the 2nd quarter. Stephens Inc. AR now owns 963,702 shares of the biotechnology company’s stock valued at $2,419,000 after purchasing an additional 12,973 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

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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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