Swiss National Bank Has $4.75 Million Stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Swiss National Bank increased its holdings in shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE – Get Rating) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,500 shares of the biotechnology company’s stock after purchasing an additional 9,800 shares during the quarter. Swiss National Bank owned approximately 0.10% of Cerevel Therapeutics worth $4,747,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its stake in Cerevel Therapeutics by 9.1% in the fourth quarter. Arizona State Retirement System now owns 17,579 shares of the biotechnology company’s stock valued at $554,000 after acquiring an additional 1,460 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Cerevel Therapeutics by 2.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 14,070 shares of the biotechnology company’s stock valued at $444,000 after acquiring an additional 360 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Cerevel Therapeutics by 41.7% during the 4th quarter. SG Americas Securities LLC now owns 14,505 shares of the biotechnology company’s stock worth $457,000 after buying an additional 4,271 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Cerevel Therapeutics during the 4th quarter worth about $233,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Cerevel Therapeutics by 5.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 79,963 shares of the biotechnology company’s stock worth $2,522,000 after buying an additional 4,394 shares during the last quarter.

Insider Activity

In other news, CEO N Anthony Coles sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 11th. The shares were sold at an average price of $25.06, for a total value of $1,253,000.00. Following the sale, the chief executive officer now directly owns 2,704 shares in the company, valued at approximately $67,762.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 103,000 shares of company stock worth $2,908,070. Corporate insiders own 4.30% of the company’s stock.

Cerevel Therapeutics Price Performance

CERE stock opened at $32.46 on Friday. The company has a quick ratio of 13.35, a current ratio of 13.35 and a debt-to-equity ratio of 0.78. Cerevel Therapeutics Holdings, Inc. has a 12 month low of $22.10 and a 12 month high of $41.46. The firm has a market cap of $5.09 billion, a P/E ratio of -12.83 and a beta of 1.48. The company’s 50-day moving average price is $27.23 and its two-hundred day moving average price is $29.00.

Cerevel Therapeutics (NASDAQ:CERE – Get Rating) last released its earnings results on Wednesday, February 22nd. The biotechnology company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.05. On average, analysts anticipate that Cerevel Therapeutics Holdings, Inc. will post -2.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Cowen assumed coverage on shares of Cerevel Therapeutics in a research note on Monday, April 10th. They set an “outperform” rating for the company. Berenberg Bank initiated coverage on shares of Cerevel Therapeutics in a research report on Thursday, March 16th. They set a “hold” rating and a $22.00 price target on the stock. Morgan Stanley lowered their price target on shares of Cerevel Therapeutics from $50.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, February 23rd. Mizuho raised their price target on shares of Cerevel Therapeutics from $26.00 to $29.00 in a research report on Monday, May 8th. Finally, Wells Fargo & Company raised shares of Cerevel Therapeutics from an “equal weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research report on Thursday, May 4th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.80.

About Cerevel Therapeutics

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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.