Mirae Asset Global Investments Co. Ltd. Has $1.54 Million Stock Holdings in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Mirae Asset Global Investments Co. Ltd. grew its position in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,363 shares of the biotechnology company’s stock after purchasing an additional 2,117 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cerevel Therapeutics were worth $1,542,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in Cerevel Therapeutics in the fourth quarter worth $23,370,000. Arizona State Retirement System raised its holdings in shares of Cerevel Therapeutics by 10.9% during the fourth quarter. Arizona State Retirement System now owns 19,816 shares of the biotechnology company’s stock worth $840,000 after acquiring an additional 1,954 shares during the period. GAM Holding AG acquired a new stake in shares of Cerevel Therapeutics during the fourth quarter worth $212,000. Assenagon Asset Management S.A. acquired a new stake in shares of Cerevel Therapeutics during the fourth quarter worth $12,715,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Cerevel Therapeutics during the fourth quarter worth $339,000. 87.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cerevel Therapeutics

In other news, insider John Renger sold 2,161 shares of the business’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 $89,767.94. Following the transaction, the insider now directly owns 6,370 shares in the company, valued at approximately $264,609.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John Renger sold 2,161 shares of the business’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 $89,767.94. Following the transaction, the insider now directly owns 6,370 shares in the company, valued at approximately $264,609.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director N Anthony Coles sold 2,506 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $41.54, for a total transaction of $104,099.24. Following the transaction, the director now owns 15,638 shares in the company, valued at $649,602.52. The disclosure for this sale can be found here. Insiders have sold 104,667 shares of company stock worth $4,302,367 in the last ninety days. Insiders own 5.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CERE. JPMorgan Chase & Co. raised their price objective on shares of Cerevel Therapeutics from $25.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, December 28th. Mizuho raised their price objective on shares of Cerevel Therapeutics from $25.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.40.

Cerevel Therapeutics Stock Up 0.2 %

Cerevel Therapeutics stock opened at $42.21 on Friday. The company has a market cap of $7.66 billion, a P/E ratio of -16.88 and a beta of 1.48. Cerevel Therapeutics Holdings, Inc. has a 1-year low of $19.59 and a 1-year high of $43.59. The company has a fifty day simple moving average of $41.94 and a 200 day simple moving average of $36.35. The company has a current ratio of 10.92, a quick ratio of 10.92 and a debt-to-equity ratio of 0.50.

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.