Selling Buzz: Cerus Corporation [CERS] Chief Financial Officer Green Kevin Dennis sells 57,335 shares of the company

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cerus Corporation shares valued at $285,373 were sold by Green Kevin Dennis on May 10. At $4.98 per share, Green Kevin Dennis sold 57,335 shares. The insider’s holdings dropped to 222,999 shares worth approximately $1.3 million following the completion of this transaction.

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Also, Moore Carol sold 28,513 shares, netting a total of over 143,695 in proceeds. Following the sale of shares at $5.04 each, the insider now holds 257,192 shares.

Before that, Menard Chrystal had sold 30,307 shares from its account. In a trade valued at $152,734, the Chief Legal Officer traded Cerus Corporation shares for $5.04 each. Upon closing the transaction, the insider’s holdings decreased to 30,307 shares, worth approximately $0.87 million.

As of February 26, 2020, BTIG Research has initiated its “Buy” rating for CERS. Earlier on November 13, 2019, BTIG Research upgraded its rating. Their new recommendation was “a Buy” for CERS stock which previously was a “a Neutral”.

Analyzing CERS’s Price Performance

On Thursday, Cerus Corporation [NASDAQ: CERS] plunged -0.17% to $5.82. The stock’s lowest price that day was $5.65, but it reached a high of $5.93 in the same session. During the last five days, there has been a surge of approximately 4.86%. Over the course of the year, Cerus Corporation shares have dropped approximately -14.54%. Shares of the company reached a 52-week high of $7.01 on 01/04/22 and a 52-week low of $4.34 on 06/16/22. A 50-day SMA is recorded $5.30, while a 200-day SMA reached $5.73. Nevertheless, trading volume fell to 2.23 million shares from 1.03 million shares the previous day.

Support And Resistance Levels for Cerus Corporation (CERS)

According to the 24-hour chart, there is a support level at 5.67, which, if violated, would cause prices to drop to 5.52. In the upper region, resistance lies at 5.95. The next price resistance is at 6.08. RSI (Relative Strength Index) is 59.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.19, which suggests the price will decrease in the coming days. Percent R is at 13.82%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Cerus Corporation subject to short interest?

Stocks of Cerus Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.12 million shares to 6.7 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.82 million shares. A decline of -16.72% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.97 of the overall float, the days-to-cover ratio (short ratio) decline to 3.97.

Which companies own the most shares of Cerus Corporation (CERS)?

According to ARK Investment Management LLC filings, the company currently owns 17,111,062 shares, which is about 9.67% of the total CERS shares outstanding. The investor’s shares have appreciated by 897,215 from its previous 13-F filing of 16213847.0 shares. With the completion of the sale transaction, Baker Bros. Advisors LP’s stake is now worth $72,542,802. Nikko Asset Management Americas, reduced a -7.74% interest valued at $56.27 million while Nikko Asset Management Co., Ltd. 10,287,351 stake. In its current portfolio, The Vanguard Group, Inc. holds 8,617,461 shares valued at $45.59 million.

In terms of Cerus Corporation share price expectations, FactSet research, analysts set an average price target of $9.40 in the next 12 months, up nearly 71.53% from the previous closing price of $5.83. Analysts anticipate Cerus Corporation stock to reach $11.50 by 2022, with the lowest price target being $7.50. In spite of this, 5 analysts ranked Cerus Corporation stock as a Buy at the end of 2022.


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