Vanguard Group Inc. Raises Stock Holdings in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Vanguard Group Inc. increased its position in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 15.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,374,970 shares of the biotechnology company’s stock after buying an additional 1,003,594 shares during the quarter. Vanguard Group Inc. owned 4.06% of Cerevel Therapeutics worth $312,699,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Cerevel Therapeutics in the fourth quarter worth $71,000. Centaurus Financial Inc. purchased a new position in Cerevel Therapeutics during the 4th quarter valued at $119,000. PNC Financial Services Group Inc. increased its position in Cerevel Therapeutics by 68.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,506 shares of the biotechnology company’s stock valued at $208,000 after purchasing an additional 3,866 shares during the period. GAM Holding AG bought a new stake in Cerevel Therapeutics during the 4th quarter valued at approximately $212,000. Finally, Virtu Financial LLC purchased a new position in shares of Cerevel Therapeutics during the 4th quarter worth approximately $246,000. 87.73% of the stock is owned by hedge funds and other institutional investors.

Cerevel Therapeutics Stock Up 1.0 %

CERE stock opened at $40.89 on Friday. Cerevel Therapeutics Holdings, Inc. has a fifty-two week low of $19.59 and a fifty-two week high of $43.59. The business’s 50 day moving average price is $41.52 and its two-hundred day moving average price is $41.83. The company has a debt-to-equity ratio of 0.60, a quick ratio of 10.22 and a current ratio of 10.22. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of -14.98 and a beta of 1.41.

Cerevel Therapeutics (NASDAQ:CERE) last posted its earnings results on Wednesday, May 8th. The biotechnology company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.12). As a group, analysts forecast that Cerevel Therapeutics Holdings, Inc. will post -2.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cerevel Therapeutics news, Director N Anthony Coles sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $42.10, for a total transaction of $2,105,000.00. Following the transaction, the director now owns 15,638 shares in the company, valued at approximately $658,359.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.10% of the company’s stock.

Cerevel Therapeutics 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.