Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 9.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,170 shares of the biotechnology company’s stock after acquiring an additional 1,091 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cerevel Therapeutics were worth $558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of CERE. Graham Capital Management L.P. increased its stake in shares of Cerevel Therapeutics by 304.6% during the third quarter. Graham Capital Management L.P. now owns 41,850 shares of the biotechnology company’s stock valued at $914,000 after purchasing an additional 31,506 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in Cerevel Therapeutics during the third quarter valued at $1,092,000. Charles Schwab Investment Management Inc. raised its stake in Cerevel Therapeutics by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 517,244 shares of the biotechnology company’s stock valued at $11,291,000 after buying an additional 15,261 shares during the last quarter. Citigroup Inc. boosted its holdings in Cerevel Therapeutics by 22.7% in the third quarter. Citigroup Inc. now owns 83,786 shares of the biotechnology company’s stock worth $1,829,000 after acquiring an additional 15,507 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Cerevel Therapeutics by 100.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,505,976 shares of the biotechnology company’s stock worth $32,875,000 after acquiring an additional 755,976 shares during the last quarter. 87.73% of the stock is owned by hedge funds and other institutional investors.

Cerevel Therapeutics Trading Down 0.2 %

Shares of NASDAQ:CERE opened at $42.63 on Thursday. Cerevel Therapeutics Holdings, Inc. has a 1 year low of $19.59 and a 1 year high of $43.59. The stock’s fifty day moving average price is $41.89 and its 200-day moving average price is $37.45. The company has a market cap of $7.74 billion, a P/E ratio of -17.05 and a beta of 1.48. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.92 and a quick ratio of 10.92.

Insider Buying and Selling at Cerevel Therapeutics

In other news, Director N Anthony Coles sold 2,506 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $41.54, for a total transaction of $104,099.24. Following the sale, the director now owns 15,638 shares of the company’s stock, valued at approximately $649,602.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Cerevel Therapeutics news, insider John Renger sold 2,161 shares of Cerevel Therapeutics stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $41.54, for a total value of $89,767.94. Following the completion of the sale, the insider now owns 6,370 shares of the company’s stock, valued at approximately $264,609.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director N Anthony Coles sold 2,506 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $41.54, for a total value of $104,099.24. Following the transaction, the director now directly owns 15,638 shares in the company, valued at $649,602.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,667 shares of company stock worth $4,302,367. Company insiders own 5.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Mizuho upped their price target on shares of Cerevel Therapeutics from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.40.

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.