Primecap Management Co. CA Cuts Stake in Cerus Co. (NASDAQ:CERS)

Primecap Management Co. CA cut its holdings in Cerus Co. (NASDAQ:CERS) by 81.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,544,300 shares of the biotechnology company’s stock after selling 6,999,700 shares during the quarter. Primecap Management Co. CA’s holdings in Cerus were worth $2,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rockport Wealth LLC purchased a new stake in shares of Cerus in the 4th quarter worth approximately $25,000. Cibc World Markets Corp bought a new position in Cerus in the fourth quarter worth approximately $26,000. R Squared Ltd purchased a new stake in Cerus during the fourth quarter worth $29,000. PCA Investment Advisory Services Inc. bought a new stake in Cerus during the 4th quarter valued at $46,000. Finally, Intech Investment Management LLC purchased a new position in shares of Cerus in the 3rd quarter valued at $71,000. 78.37% of the stock is currently owned by institutional investors.

Cerus Price Performance

Shares of CERS opened at $1.53 on Thursday. The company has a 50 day moving average of $1.71 and a two-hundred day moving average of $1.75. The company has a market cap of $284.26 million, a price-to-earnings ratio of -13.91 and a beta of 1.56. The company has a quick ratio of 1.92, a current ratio of 2.59 and a debt-to-equity ratio of 1.19. Cerus Co. has a twelve month low of $1.38 and a twelve month high of $2.54.

Cerus (NASDAQ:CERS) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Cerus had a negative return on equity of 40.55% and a negative net margin of 11.60%. The firm had revenue of $50.81 million for the quarter, compared to the consensus estimate of $50.81 million. As a group, analysts predict that Cerus Co. will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $4.00 price objective on shares of Cerus in a research note on Friday, February 21st.

Insider Activity

In other news, insider Richard J. Benjamin sold 51,254 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $1.58, for a total value of $80,981.32. Following the transaction, the insider now directly owns 400,665 shares of the company’s stock, valued at approximately $633,050.70. This represents a 11.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Dennis Green sold 60,656 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $1.58, for a total transaction of $95,836.48. Following the transaction, the chief financial officer now directly owns 493,862 shares of the company’s stock, valued at approximately $780,301.96. This trade represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 441,150 shares of company stock worth $665,210 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

Cerus Profile

Cerus Corporation operates as a biomedical products company. The company focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System, a proprietary technology for controlling biological replication that is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.