Traders Buy High Volume of Call Options on Cerevel Therapeutics (NASDAQ:CERE)

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) saw unusually large options trading activity on Wednesday. Traders acquired 7,125 call options on the company. This represents an increase of approximately 399% compared to the average volume of 1,428 call options.

Insider Buying and Selling

In other Cerevel Therapeutics news, Director N Anthony Coles sold 25,000 shares of Cerevel Therapeutics stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $41.18, for a total transaction of $1,029,500.00. Following the completion of the transaction, the director now owns 25,928 shares in the company, valued at approximately $1,067,715.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.10% of the stock is currently owned by company insiders.

Institutional Trading of Cerevel Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of CERE. Avoro Capital Advisors LLC grew its stake 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 purchasing an additional 6,600,000 shares during the period. Bain Capital Investors LLC grew its position in Cerevel Therapeutics by 9.1% during the fourth quarter. Bain Capital Investors LLC now owns 65,679,781 shares of the biotechnology company’s stock valued at $2,784,823,000 after buying an additional 5,480,052 shares during the period. Alpine Associates Management Inc. purchased a new stake in Cerevel Therapeutics during the fourth quarter worth about $69,710,000. Vanguard Group Inc. raised its position in Cerevel Therapeutics by 15.8% in the fourth quarter. Vanguard Group Inc. now owns 7,374,970 shares of the biotechnology company’s stock worth $312,699,000 after acquiring an additional 1,003,594 shares during the period. Finally, Perceptive Advisors LLC boosted its stake in Cerevel Therapeutics by 8.7% in the fourth 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 last quarter. 87.73% of the stock is owned by hedge funds and other institutional investors.

Cerevel Therapeutics Price Performance

CERE opened at $40.30 on Thursday. The firm’s fifty day moving average price is $41.46 and its two-hundred day moving average price is $41.82. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of -14.76 and a beta of 1.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 10.22 and a quick ratio of 10.22. Cerevel Therapeutics has a 1 year low of $19.59 and a 1 year high of $43.59.

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

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.