International Assets Investment Management LLC Takes $23.37 Million Position in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

International Assets Investment Management LLC acquired a new stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 55,120 shares of the biotechnology company’s stock, valued at approximately $23,370,000.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cerevel Therapeutics by 6.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,363 shares of the biotechnology company’s stock valued at $1,542,000 after acquiring an additional 2,117 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Cerevel Therapeutics by 10.9% in the fourth quarter. Arizona State Retirement System now owns 19,816 shares of the biotechnology company’s stock worth $840,000 after purchasing an additional 1,954 shares during the period. GAM Holding AG acquired a new position in shares of Cerevel Therapeutics during the 4th quarter worth about $212,000. Assenagon Asset Management S.A. bought a new stake in Cerevel Therapeutics during the 4th quarter valued at approximately $12,715,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Cerevel Therapeutics in the fourth quarter worth $339,000. 87.73% of the stock is currently owned by institutional investors.

Cerevel Therapeutics Stock Down 0.1 %

Shares of CERE opened at $42.55 on Friday. 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 company has a 50-day moving average price of $41.99 and a two-hundred day moving average price of $37.66. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of -17.02 and a beta of 1.46. Cerevel Therapeutics Holdings, Inc. has a 12 month low of $19.59 and a 12 month high of $43.59.

Wall Street Analysts Forecast Growth

Separately, Mizuho lifted their target price on Cerevel Therapeutics from $25.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Cerevel Therapeutics currently has an average rating of “Hold” and a consensus price target of $42.67.

Insider Transactions at Cerevel Therapeutics

In other Cerevel Therapeutics news, Director N Anthony Coles sold 50,000 shares of the company’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 sale, the director now directly owns 15,638 shares in the company, valued at $641,314.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cerevel Therapeutics news, Director N Anthony Coles sold 50,000 shares of the business’s 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 transaction, the director now directly owns 15,638 shares in the company, valued at $641,314.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Renger sold 2,161 shares of the company’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 $89,767.94. Following the sale, the insider now directly owns 6,370 shares in the company, valued at $264,609.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,667 shares of company stock valued at $4,302,367. Corporate insiders own 5.10% of the company’s stock.

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.