Handelsbanken Fonder AB Acquires 4,600 Shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Handelsbanken Fonder AB boosted its holdings in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 39.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,200 shares of the biotechnology company’s stock after acquiring an additional 4,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Cerevel Therapeutics were worth $687,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in Cerevel Therapeutics by 68.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,506 shares of the biotechnology company’s stock worth $208,000 after purchasing an additional 3,866 shares in the last quarter. GAM Holding AG bought a new stake in Cerevel Therapeutics during the fourth quarter worth $212,000. E Fund Management Co. Ltd. grew its holdings in Cerevel Therapeutics by 7.6% during the third quarter. E Fund Management Co. Ltd. now owns 10,223 shares of the biotechnology company’s stock worth $223,000 after buying an additional 722 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cerevel Therapeutics by 19.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,079 shares of the biotechnology company’s stock valued at $264,000 after acquiring an additional 1,925 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new position in Cerevel Therapeutics during the 3rd quarter valued at $267,000. Institutional investors own 87.73% of the company’s stock.

Cerevel Therapeutics Trading Up 0.7 %

Shares of Cerevel Therapeutics stock opened at $42.75 on Tuesday. The firm has a market cap of $7.76 billion, a PE ratio of -17.10 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 debt-to-equity ratio of 0.50, a current ratio of 10.92 and a quick ratio of 10.92. The stock has a fifty day moving average price of $41.86 and a 200-day moving average price of $37.31.

Analyst Upgrades and Downgrades

Separately, Mizuho upped their target price 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cerevel Therapeutics has an average rating of “Hold” and a consensus target price of $41.40.

Insider Activity at Cerevel Therapeutics

In other Cerevel Therapeutics news, Director N Anthony Coles sold 50,000 shares of Cerevel Therapeutics stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $41.01, for a total value of $2,050,500.00. Following the sale, the director now owns 15,638 shares of the company’s stock, valued at $641,314.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider John Renger sold 2,161 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $41.54, for a total value of $89,767.94. Following the transaction, the insider now owns 6,370 shares in the company, valued at $264,609.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director N Anthony Coles sold 50,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $41.01, for a total value of $2,050,500.00. Following the completion of the sale, the director now directly owns 15,638 shares of the company’s stock, valued at $641,314.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,667 shares of company stock worth $4,302,367. 5.10% of the stock is owned by company insiders.

About Cerevel Therapeutics

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.