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Vivek K. Jayaraman, the Chief Operating Officer of Cerus Corp (NASDAQ:CERS), recently executed a stock sale valued at approximately $50,930. According to the latest SEC filing, Jayaraman sold 33,999 shares on March 7 at a weighted average price of $1.498 per share. The transaction comes as Cerus Corp’s stock trades near its 52-week low of $1.38, with InvestingPro analysis indicating the stock may be undervalued at current levels. This sale was conducted under a prearranged trading plan to cover statutory tax obligations and associated fees related to the vesting of certain restricted stock units.
In addition to the sale, Jayaraman acquired restricted stock units (RSUs) on March 6, with 545,000 RSUs granted under Cerus Corp’s 2024 Equity Incentive Plan. These RSUs will vest in two installments in March 2026 and March 2027, contingent upon continued service with the company. An additional 90,486 RSUs were granted as part of the 2024 annual bonus, which were fully vested upon issuance.
Following these transactions, Jayaraman holds 1,507,315 shares of Cerus Corp. While the company maintains strong liquidity with a current ratio of 2.39, InvestingPro data reveals additional insights about the company’s financial health and future prospects.
In other recent news, Cerus Corporation reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of -$0.01, beating the forecasted -$0.02. Revenue for the quarter also exceeded projections, coming in at $56.75 million against the anticipated $53.76 million. The company achieved a 9% year-over-year increase in product revenue for the quarter, contributing to a 15% rise in product revenue for the full year 2024. Cerus also reported positive adjusted EBITDA of $5.7 million for the year, highlighting its operational efficiency.
In regulatory news, Cerus received CE Mark approval for its INT 200 LED Illuminator, enabling the company to market the product across the European Union and other regions recognizing the CE Mark. This development is seen as a strategic move to expand Cerus’s market reach. On the analyst front, Cantor Fitzgerald maintained an Overweight rating on Cerus stock with a $4.00 price target, indicating a positive outlook on the company’s performance.
Despite these positive developments, Cerus’s stock experienced a slight decline. The company plans to continue expanding its international presence, particularly in markets like China and Brazil, and projects an 8-11% year-over-year growth in product revenue for 2025. These recent developments reflect Cerus’s ongoing efforts to strengthen its market position and financial performance.
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