Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE – Get Free Report) insider Kenneth Dipietro sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $41.45, for a total value of $331,600.00. Following the completion of the transaction, the insider now directly owns 24,663 shares in the company, valued at $1,022,281.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Cerevel Therapeutics Trading Down 0.0 %
Shares of CERE stock traded down $0.01 during mid-day trading on Wednesday, reaching $42.30. The stock had a trading volume of 1,125,250 shares, compared to its average volume of 1,085,482. The firm has a market capitalization of $7.63 billion, a PE ratio of -16.92 and a beta of 1.37. The stock’s 50-day moving average price is $29.73 and its two-hundred day moving average price is $27.32. Cerevel Therapeutics Holdings, Inc. has a 52-week low of $19.59 and a 52-week high of $42.59. The company has a current ratio of 8.72, a quick ratio of 8.72 and a debt-to-equity ratio of 1.23.
Cerevel Therapeutics (NASDAQ:CERE – Get Free Report) last released its earnings results on Wednesday, November 1st. The biotechnology company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.02. During the same period in the previous year, the firm earned ($0.66) earnings per share. Equities analysts expect that Cerevel Therapeutics Holdings, Inc. will post -2.5 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Cerevel Therapeutics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP purchased a new position in shares of Cerevel Therapeutics in the first quarter worth $75,000. Royal Bank of Canada lifted its holdings in shares of Cerevel Therapeutics by 19.4% during the 3rd quarter. Royal Bank of Canada now owns 2,959 shares of the biotechnology company’s stock valued at $83,000 after buying an additional 480 shares during the period. Centaurus Financial Inc. purchased a new position in shares of Cerevel Therapeutics in the 1st quarter worth $105,000. Tower Research Capital LLC TRC grew its holdings in shares of Cerevel Therapeutics by 59.4% in the second quarter. Tower Research Capital LLC TRC now owns 4,262 shares of the biotechnology company’s stock worth $135,000 after acquiring an additional 1,588 shares during the period. Finally, Ameritas Investment Partners Inc. increased its position in Cerevel Therapeutics by 11.5% during the second quarter. Ameritas Investment Partners Inc. now owns 5,110 shares of the biotechnology company’s stock valued at $162,000 after acquiring an additional 526 shares during the last quarter. 87.73% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on CERE. Jefferies Financial Group reiterated a “hold” rating and set a $45.00 target price (up from $40.00) on shares of Cerevel Therapeutics in a research report on Friday, December 22nd. Piper Sandler restated a “neutral” rating and issued a $45.00 price objective (up previously from $33.00) on shares of Cerevel Therapeutics in a research report on Thursday, December 7th. HC Wainwright downgraded shares of Cerevel Therapeutics from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $41.00 to $45.00 in a research note on Thursday, December 7th. TD Cowen reaffirmed a “market perform” rating and set a $45.00 price objective on shares of Cerevel Therapeutics in a research note on Friday, December 8th. Finally, Morgan Stanley cut their target price on Cerevel Therapeutics from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.00.
Cerevel Therapeutics Company Profile
Cerevel Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, develops various therapies for neuroscience diseases in the United States. It is developing Emraclidine, a positive allosteric modulator (PAM) that is in phase 1b clinical trials for the treatment of schizophrenia; and Darigabat, a PAM, which is in Phase 2 proof-of-concept trial in patients with drug-resistant focal onset seizures in epilepsy or focal epilepsy, as well as in phase 1 trial to treat panic symptoms model.