ARK Investment Management LLC Trims Position in Cerus Co. (NASDAQ:CERS)

ARK Investment Management LLC lowered its position in Cerus Co. (NASDAQ:CERS) by 8.4% in the third quarter, HoldingsChannel reports. The firm owned 18,225,031 shares of the biotechnology company’s stock after selling 1,675,153 shares during the period. ARK Investment Management LLC owned approximately 0.10% of Cerus worth $31,712,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in shares of Cerus by 124.8% in the 1st quarter. BNP Paribas Financial Markets now owns 218,647 shares of the biotechnology company’s stock valued at $413,000 after buying an additional 121,364 shares during the period. Russell Investments Group Ltd. grew its position in Cerus by 451.1% in the first quarter. Russell Investments Group Ltd. now owns 14,879 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 12,179 shares during the period. Vanguard Group Inc. increased its stake in Cerus by 1.1% during the first quarter. Vanguard Group Inc. now owns 9,983,963 shares of the biotechnology company’s stock worth $18,870,000 after acquiring an additional 113,292 shares during the last quarter. EntryPoint Capital LLC raised its position in Cerus by 202.4% in the first quarter. EntryPoint Capital LLC now owns 57,765 shares of the biotechnology company’s stock valued at $109,000 after purchasing an additional 38,663 shares during the period. Finally, Hood River Capital Management LLC purchased a new position in shares of Cerus during the 1st quarter worth $566,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Stifel Nicolaus decreased their target price on Cerus from $6.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th.

Insider Activity

In related news, CFO Kevin Dennis Green sold 28,385 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $2.18, for a total transaction of $61,879.30. Following the completion of the transaction, the chief financial officer now directly owns 590,365 shares of the company’s stock, valued at $1,286,995.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.40% of the company’s stock.

Cerus Price Performance

Cerus stock opened at $1.76 on Friday. 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 52-week low of $1.38 and a 52-week high of $2.59. The firm has a market cap of $326.86 million, a PE ratio of -16.00 and a beta of 1.20. The company’s 50 day moving average is $1.82 and its two-hundred day moving average is $1.91.

Cerus Company 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.