ARK Investment Management LLC has recently announced that it has increased stake in Cerus Corporation (NASDAQ:CERS) by 39.32%. After grabbing 22.1 million shares, the institutional investor is now in possession of 6.24 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 12.44% having worth around $51.05 million. Moreover, BlackRock Fund Advisors increased its share by 0.27 million to have a control over 10.87 million shares. And Nikko Asset Management Americas, raised its holdings to 0.85 million shares by acquiring 8.02 million shares or 4.51% of the stake.
Cerus Corporation (CERS) concluded trading on 05/25/23 at a closing price of $1.96, with 1.31 million shares of worth about $2.56 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -48.69% during that period and on Thursday the price saw a loss of about -3.45%. Currently the company’s common shares owned by public are about 178.27M shares, out of which, 171.72M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the CERS stock and their offered price forecasts bring an average price target of $7.63. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $11.50 and could fall to a lowest price of $3.00. The stock’s current price level is 74.28% above of average price target set by the analysts, while a rise to estimated low would result in gain of 34.67% for the stock. However, touching the estimated high of $11.50 would mean a gain of 82.96% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 47 times over the past 12 months. They bought 2,151,683 shares in 29 of the transactions. In 18 selling transactions, insiders dumped 204,740 shares.
ARK Innovation ETF, PRIMECAP Odyssey Aggressive Growt, and Nikko AM Global Umbrella Fund – A are the top 3 mutual funds which are holding stakes in Cerus Corporation ARK Innovation ETF is currently holding 13.55 million shares of worth totaling $31.29 million. The company recently came buying 21804.0 shares which brought its stake up to 7.63% of the company’s outstanding shares. PRIMECAP Odyssey Aggressive Growt sold 33500.0 shares, after which its hold over company’s outstanding shares shrunk to 4.96%, leaving 8.82 million shares with the mutual fund that have a worth of about $20.37 million. Nikko AM Global Umbrella Fund – A, after selling 8.66 million shares, have now control over 4.88% of the stake in the company. It holds -1.05 million shares of worth $20.0 million.
Cerus Corporation (NASDAQ: CERS) started trading at $2.06, above $0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 2.0850, or with a loss of -3.45%. Stock saw a price change of 9.50% in past 5 days and over the past one month there was a price change of -16.60%. Year-to-date (YTD), CERS shares are showing a performance of -46.30% which decreased to -59.42% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.76 but also hit the highest price of $5.95 during that period. The average intraday trading volume for Cerus Corporation shares is 1.47 million. The stock is currently trading -6.04% below its 20-day simple moving average (SMA20), while that difference is down -21.54% for SMA50 and it goes to -41.73% lower than SMA200.
ARK Investment Management LLC acquired 22.1 million shares of Cerus Corporation having value of about $51.05 million. Data submitted at the U.S SEC by ARK Investment Management LLC revealed that the firm now holds 6.24 million shares in the company valued at close to $12224000.6, or have control over 39.32% stake in the company. Cerus Corporation (NASDAQ: CERS) currently have 178.27M outstanding shares and institutions hold larger chunk of about 81.20% of that. Holding of mutual funds in the company is about 46.36% while other institutional holders and individual stake holders have control over 6.30% and 35.49% of the stake respectively.
The stock has a current market capitalization of $336.94M and its 3Y-monthly beta is at 1.03. It has posted earnings per share of -$0.26 in the same period. It has Quick Ratio of 1.60 while making debt-to-equity ratio of 1.24. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CERS, volatility over the week remained 8.42% while standing at 7.63% over the month.
Analysts are in expectations that Cerus Corporation (CERS) stock would likely to be making an EPS of -$0.06 in the current quarter, while forecast for next quarter EPS is -$0.04 and it is -$0.14 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.07 which is -$0.04 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 23.70% while it is estimated to increase by 36.40% in next year.
Analysts at 5 brokerage firms have issued recommendations for the Cerus Corporation (CERS)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.20. Out of those 5 Wall Street analysts, 3 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
