Cerevel Therapeutics (NASDAQ:CERE) Sees Unusually-High Trading Volume

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) shares saw an uptick in trading volume on Tuesday . 2,476,139 shares changed hands during trading, an increase of 80% from the previous session’s volume of 1,376,890 shares.The stock last traded at $39.80 and had previously closed at $41.42.

Cerevel Therapeutics Stock Performance

The stock’s 50 day moving average price is $41.58 and its 200 day moving average price is $41.83. The company has a current ratio of 10.22, a quick ratio of 10.22 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of -14.27 and a beta of 1.41.

Cerevel Therapeutics (NASDAQ:CERE) last issued its earnings results on Wednesday, May 8th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.12). Analysts expect that Cerevel Therapeutics Holdings, Inc. will post -2.63 earnings per share for the current year.

Insider Activity at Cerevel Therapeutics

In related news, Director N Anthony Coles sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $42.10, for a total value of $2,105,000.00. Following the completion of the sale, the director now directly owns 15,638 shares in the company, valued at approximately $658,359.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CERE. Avoro Capital Advisors LLC raised its holdings in Cerevel Therapeutics by 690.7% in the 4th quarter. Avoro Capital Advisors LLC now owns 7,555,555 shares of the biotechnology company’s stock valued at $320,356,000 after acquiring an additional 6,600,000 shares during the period. Bain Capital Investors LLC raised its holdings in Cerevel Therapeutics by 9.1% in the 4th quarter. Bain Capital Investors LLC now owns 65,679,781 shares of the biotechnology company’s stock valued at $2,784,823,000 after acquiring an additional 5,480,052 shares during the period. Alpine Associates Management Inc. bought a new position in Cerevel Therapeutics in the 4th quarter valued at about $69,710,000. Vanguard Group Inc. raised its holdings in Cerevel Therapeutics by 15.8% in the 4th quarter. Vanguard Group Inc. now owns 7,374,970 shares of the biotechnology company’s stock valued at $312,699,000 after acquiring an additional 1,003,594 shares during the period. Finally, Perceptive Advisors LLC raised its holdings in Cerevel Therapeutics by 8.7% in the 4th quarter. Perceptive Advisors LLC now owns 10,965,193 shares of the biotechnology company’s stock valued at $464,924,000 after acquiring an additional 876,808 shares during the period. 87.73% of the stock is owned by institutional investors.

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 or focal epilepsy, as well as in phase 1 trial to treat panic symptoms model.