Point72 Hong Kong Ltd Acquires Shares of 1,470 Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Posted by on Mar 6th, 2023

Point72 Hong Kong Ltd acquired a new stake in shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,470 shares of the biotechnology company’s stock, valued at approximately $42,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CERE. High Net Worth Advisory Group LLC acquired a new stake in Cerevel Therapeutics during the third quarter valued at approximately $28,000. Nisa Investment Advisors LLC grew its holdings in shares of Cerevel Therapeutics by 46.8% during the second quarter. Nisa Investment Advisors LLC now owns 1,380 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 440 shares during the last quarter. Centaurus Financial Inc. bought a new position in shares of Cerevel Therapeutics during the first quarter valued at approximately $105,000. Strs Ohio grew its holdings in shares of Cerevel Therapeutics by 143.8% during the third quarter. Strs Ohio now owns 3,900 shares of the biotechnology company’s stock valued at $110,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Amundi bought a new position in shares of Cerevel Therapeutics during the second quarter valued at approximately $190,000.

Cerevel Therapeutics Stock Performance

Shares of CERE stock opened at $27.81 on Monday. Cerevel Therapeutics Holdings, Inc. has a 12-month low of $19.86 and a 12-month high of $41.46. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of -11.99 and a beta of 1.52. The business has a 50 day simple moving average of $31.55 and a 200 day simple moving average of $29.68. The company has a debt-to-equity ratio of 0.64, a current ratio of 12.48 and a quick ratio of 12.48.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CERE. Mizuho lowered their target price on Cerevel Therapeutics from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, November 10th. JPMorgan Chase & Co. lowered their target price on Cerevel Therapeutics from $49.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, December 6th. Wells Fargo & Company lowered Cerevel Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $38.00 to $30.00 in a report on Wednesday, February 22nd. HC Wainwright lowered their target price on Cerevel Therapeutics from $48.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 23rd. Finally, Cantor Fitzgerald increased their price objective on Cerevel Therapeutics from $41.00 to $46.00 in a report on Tuesday, December 20th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.

Insider Buying and Selling at Cerevel Therapeutics

In other Cerevel Therapeutics news, CEO N Anthony Coles sold 50,000 shares of the stock in a transaction on Friday, December 9th. The stock was sold at an average price of $26.67, for a total transaction of $1,333,500.00. Following the completion of the transaction, 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 SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 150,000 shares of company stock valued at $4,487,000. 4.30% of the stock is owned by corporate insiders.

Cerevel Therapeutics Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for Cerevel Therapeutics (NASDAQ:CERE)

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