Cerus Corp chief legal officer sells $41,130 in stock

Jensen Chrystal, the Chief Legal Officer of Cerus Corp (NASDAQ:CERS), executed a stock sale valued at $41,130, according to a recent SEC filing. The transaction, which took place on March 7, involved the sale of 27,457 shares at a weighted average price of $1.498 per share. The sale occurs as Cerus, currently valued at $274 million, trades near its 52-week low of $1.38, significantly below its 52-week high of $2.54. This sale was conducted under a pre-arranged 10b5-1 trading plan to cover statutory tax withholding obligations and brokerage fees related to the vesting of restricted stock units.

Prior to this sale, Chrystal acquired a total of 454,577 shares of Cerus Corp common stock on March 6. These acquisitions were in the form of restricted stock units (RSUs) granted through the company’s 2024 Equity Incentive Plan. The RSUs were granted as part of the 2024 annual bonus and were either fully vested upon grant or set to vest in future installments, contingent upon continued service with the company.

Following these transactions, Chrystal holds 832,318 shares of Cerus Corp common stock. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which provides detailed analysis of this and 1,400+ other US stocks.

In other recent news, Cerus Corporation reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of -$0.01, compared to the forecasted -$0.02. The company’s revenue also exceeded projections, reaching $56.75 million against an anticipated $53.76 million. Cerus demonstrated a 9% year-over-year increase in product revenue for the quarter, contributing to a 15% rise for the full year, totaling $180.3 million. Additionally, the company achieved positive adjusted EBITDA for the full year 2024, highlighting its operational efficiency and strategic execution.

Cerus recently received CE Mark approval for its INT 200 LED Illuminator, allowing the company to market the product across the European Union and other regions recognizing the CE Mark. This regulatory clearance is expected to enhance Cerus’s market reach and product offerings. Cantor Fitzgerald maintained an Overweight rating on Cerus stock, with a $4.00 price target, reflecting a positive outlook on the company’s performance.

The company plans to expand its international presence, targeting markets in EMEA, China, and Brazil, with expectations of regulatory approval in China later this year. Cerus’s strategic initiatives aim to capitalize on its technological advantages and expand its global footprint in transfusion medicine.

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