SG Americas Securities LLC lessened its stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE – Get Rating) by 48.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,234 shares of the biotechnology company's stock after selling 9,437 shares during the period. SG Americas Securities LLC's holdings in Cerevel Therapeutics were worth $289,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of CERE. High Net Worth Advisory Group LLC purchased a new stake in Cerevel Therapeutics in the 3rd quarter worth approximately $28,000. Nisa Investment Advisors LLC raised its stake in shares of Cerevel Therapeutics by 46.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,380 shares of the biotechnology company's stock worth $36,000 after buying an additional 440 shares during the period. Centaurus Financial Inc. acquired a new position in shares of Cerevel Therapeutics during the 1st quarter worth approximately $105,000. Strs Ohio raised its stake in shares of Cerevel Therapeutics by 143.8% during the 3rd quarter. Strs Ohio now owns 3,900 shares of the biotechnology company's stock worth $110,000 after buying an additional 2,300 shares during the period. Finally, Amundi acquired a new position in shares of Cerevel Therapeutics during the 2nd quarter worth approximately $190,000.
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Analyst Upgrades and Downgrades
CERE has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their target price on Cerevel Therapeutics from $49.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, December 6th. Mizuho reduced their target price on Cerevel Therapeutics from $32.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, November 10th. Cantor Fitzgerald upped their target price on Cerevel Therapeutics from $41.00 to $46.00 in a research note on Tuesday, December 20th. HC Wainwright reduced their price objective on Cerevel Therapeutics from $50.00 to $48.00 and set a "buy" rating for the company in a research note on Wednesday, November 9th. Finally, Loop Capital started coverage on Cerevel Therapeutics in a research note on Tuesday, November 1st. They issued a "buy" rating and a $40.00 price objective for the company. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $39.67.
Cerevel Therapeutics Stock Up 4.5 %
Shares of CERE opened at $34.43 on Monday. Cerevel Therapeutics Holdings, Inc. has a 52-week low of $19.86 and a 52-week high of $41.46. The company has a market capitalization of $5.38 billion, a PE ratio of -16.16 and a beta of 1.47. The stock has a fifty day simple moving average of $30.12 and a two-hundred day simple moving average of $29.48. The company has a quick ratio of 16.64, a current ratio of 16.64 and a debt-to-equity ratio of 0.56.
Cerevel Therapeutics (NASDAQ:CERE – Get Rating) last issued its earnings results on Tuesday, November 8th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.04). As a group, equities analysts forecast that Cerevel Therapeutics Holdings, Inc. will post -2.36 EPS for the current year.
Insiders Place Their Bets
In other Cerevel Therapeutics news, CEO N Anthony Coles sold 50,000 shares of the firm's stock in a transaction on Friday, December 9th. The stock was sold at an average price of $26.67, for a total value of $1,333,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,704 shares of the company's stock, valued at approximately $72,115.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.30% of the company's stock.
About Cerevel Therapeutics
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Cerevel Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, engages in the development of various therapies for neuroscience diseases. 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 acute anxiety.
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