Wellington Management Group LLP Sells 12,182 Shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Wellington Management Group LLP reduced its stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CEREFree Report) by 25.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,578 shares of the biotechnology company’s stock after selling 12,182 shares during the period. Wellington Management Group LLP’s holdings in Cerevel Therapeutics were worth $1,509,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CERE. Deutsche Bank AG increased its position in Cerevel Therapeutics by 15.7% in the 3rd quarter. Deutsche Bank AG now owns 33,927 shares of the biotechnology company’s stock valued at $741,000 after buying an additional 4,599 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of 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 acquiring an additional 3,866 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Cerevel Therapeutics during the third quarter worth approximately $314,000. Alps Advisors Inc. lifted its holdings in shares of Cerevel Therapeutics by 0.9% in the 3rd quarter. Alps Advisors Inc. now owns 116,263 shares of the biotechnology company’s stock worth $2,538,000 after purchasing an additional 984 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Cerevel Therapeutics by 100.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,505,976 shares of the biotechnology company’s stock valued at $32,875,000 after purchasing an additional 755,976 shares during the period. Institutional investors and hedge funds own 87.73% of the company’s stock.

Cerevel Therapeutics Stock Performance

CERE opened at $41.35 on Tuesday. Cerevel Therapeutics Holdings, Inc. has a 1-year low of $19.59 and a 1-year high of $43.59. The company has a market cap of $7.53 billion, a price-to-earnings ratio of -15.15 and a beta of 1.40. The company’s fifty day moving average price is $41.51 and its two-hundred day moving average price is $41.83. The company has a current ratio of 10.22, a quick ratio of 10.22 and a debt-to-equity ratio of 0.60.

Cerevel Therapeutics (NASDAQ:CEREGet Free Report) last posted its earnings results on Wednesday, May 8th. The biotechnology company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.12). On average, analysts expect that Cerevel Therapeutics Holdings, Inc. will post -2.59 EPS for the current fiscal year.

Insider Activity

In related news, Director N Anthony Coles sold 50,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $42.10, for a total transaction of $2,105,000.00. Following the completion of the sale, the director now owns 15,638 shares in the company, valued at $658,359.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.10% of the company’s stock.

Cerevel Therapeutics Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Cerevel Therapeutics (NASDAQ:CERE)

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