Strs Ohio Sells 400 Shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Strs Ohio trimmed its holdings in shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,800 shares of the biotechnology company’s stock after selling 400 shares during the quarter. Strs Ohio’s holdings in Cerevel Therapeutics were worth $415,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CERE. PNC Financial Services Group Inc. increased its holdings in Cerevel Therapeutics by 68.5% during the third quarter. PNC Financial Services Group Inc. now owns 9,506 shares of the biotechnology company’s stock valued at $208,000 after buying an additional 3,866 shares during the period. GAM Holding AG purchased a new position in Cerevel Therapeutics in the fourth quarter worth $212,000. E Fund Management Co. Ltd. grew its holdings in Cerevel Therapeutics by 7.6% in the third quarter. E Fund Management Co. Ltd. now owns 10,223 shares of the biotechnology company’s stock worth $223,000 after purchasing an additional 722 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cerevel Therapeutics by 19.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,079 shares of the biotechnology company’s stock valued at $264,000 after purchasing an additional 1,925 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in Cerevel Therapeutics during the third quarter valued at $267,000. 87.73% of the stock is owned by hedge funds and other institutional investors.

Cerevel Therapeutics Price Performance

Cerevel Therapeutics stock opened at $42.47 on Monday. Cerevel Therapeutics Holdings, Inc. has a 52-week low of $19.59 and a 52-week high of $43.59. The company’s 50 day moving average is $41.86 and its two-hundred day moving average is $37.17. The company has a quick ratio of 10.92, a current ratio of 10.92 and a debt-to-equity ratio of 0.50. The firm has a market cap of $7.71 billion, a PE ratio of -16.99 and a beta of 1.48.

Analyst Ratings Changes

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

Insider Buying and Selling at Cerevel Therapeutics

In other Cerevel Therapeutics news, insider John Renger sold 2,161 shares of the 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 sale, the insider now directly owns 6,370 shares of the company’s stock, valued at approximately $264,609.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cerevel Therapeutics news, insider John Renger sold 2,161 shares of the 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 sale, the insider now directly owns 6,370 shares of the company’s stock, valued at approximately $264,609.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director N Anthony Coles sold 50,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $41.01, for a total transaction of $2,050,500.00. Following the completion of the transaction, the director now directly owns 15,638 shares in the company, valued at $641,314.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,667 shares of company stock valued at $4,302,367. Insiders own 5.10% of the company’s stock.

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.