Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Insider John Renger Sells 45,000 Shares

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE – Get Rating) insider John Renger sold 45,000 shares of the company’s stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of $34.65, for a total transaction of $1,559,250.00. Following the sale, the insider now owns 1,980 shares of the company’s stock, valued at approximately $68,607. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

John Renger also recently made the following trade(s):

• On Tuesday, March 29th, John Renger sold 10,000 shares of Cerevel Therapeutics stock. The shares were sold at an average price of $35.00, for a total transaction of $350,000.00.
• On Wednesday, March 16th, John Renger sold 25,000 shares of Cerevel Therapeutics stock. The shares were sold at an average price of $30.00, for a total transaction of $750,000.00.
• On Friday, March 18th, John Renger sold 20,000 shares of Cerevel Therapeutics stock. The shares were sold at an average price of $32.50, for a total transaction of $650,000.00.
• On Wednesday, February 9th, John Renger sold 25,000 shares of Cerevel Therapeutics stock. The shares were sold at an average price of $30.00, for a total transaction of $750,000.00.

Cerevel Therapeutics stock opened at $32.47 on Friday. Cerevel Therapeutics Holdings, Inc. has a twelve month low of $12.01 and a twelve month high of $46.16. The company’s 50-day moving average price is $31.21 and its two-hundred day moving average price is $32.41.

Cerevel Therapeutics (NASDAQ:CERE – Get Rating) last released its quarterly earnings results on Tuesday, March 1st. The biotechnology company reported ($0.40) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.01. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. As a group, equities analysts forecast that Cerevel Therapeutics Holdings, Inc. will post -1.81 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Cerevel Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, January 11th. The Goldman Sachs Group began coverage on shares of Cerevel Therapeutics in a research note on Tuesday, February 15th. They issued a “neutral” rating and a $27.00 target price for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Cerevel Therapeutics in a research note on Wednesday, January 5th. They issued an “overweight” rating and a $50.00 target price for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Cerevel Therapeutics has a consensus rating of “Buy” and a consensus target price of $39.71.

Several large investors have recently made changes to their positions in CERE. Nisa Investment Advisors LLC acquired a new stake in shares of Cerevel Therapeutics during the 4th quarter worth approximately $57,000. Royal Bank of Canada acquired a new stake in shares of Cerevel Therapeutics during the 2nd quarter worth approximately $62,000. Dupont Capital Management Corp acquired a new stake in shares of Cerevel Therapeutics during the 4th quarter worth approximately $117,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cerevel Therapeutics by 82.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,477 shares of the biotechnology company’s stock worth $178,000 after acquiring an additional 2,478 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Cerevel Therapeutics during the 3rd quarter worth approximately $202,000. Hedge funds and other institutional investors own 99.58% of the company’s stock.

About Cerevel Therapeutics (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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