State Board of Administration of Florida Retirement System Takes Position in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

State Board of Administration of Florida Retirement System acquired a new stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CEREGet Rating) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 13,710 shares of the biotechnology company’s stock, valued at approximately $362,000.

A number of other large investors also recently modified their holdings of CERE. Victory Capital Management Inc. lifted its position in Cerevel Therapeutics by 121.7% during the first quarter. Victory Capital Management Inc. now owns 17,484 shares of the biotechnology company’s stock valued at $512,000 after purchasing an additional 9,596 shares during the last quarter. New York State Common Retirement Fund lifted its position in Cerevel Therapeutics by 6.8% during the first quarter. New York State Common Retirement Fund now owns 30,454 shares of the biotechnology company’s stock valued at $1,066,000 after purchasing an additional 1,928 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Cerevel Therapeutics by 9.5% during the first quarter. Teacher Retirement System of Texas now owns 9,159 shares of the biotechnology company’s stock valued at $321,000 after purchasing an additional 795 shares during the last quarter. Swiss National Bank lifted its position in Cerevel Therapeutics by 9.2% during the first quarter. Swiss National Bank now owns 104,400 shares of the biotechnology company’s stock valued at $3,655,000 after purchasing an additional 8,800 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in Cerevel Therapeutics during the first quarter valued at approximately $359,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CERE shares. Evercore ISI started coverage on shares of Cerevel Therapeutics in a research report on Monday, September 12th. They set an “outperform” rating for the company. Loop Capital initiated coverage on shares of Cerevel Therapeutics in a research report on Tuesday, November 1st. They set a “buy” rating and a $40.00 target price for the company. HC Wainwright decreased their price target on shares of Cerevel Therapeutics from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, November 9th. Mizuho decreased their price target on shares of Cerevel Therapeutics from $32.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, November 10th. Finally, Cantor Fitzgerald initiated coverage on shares of Cerevel Therapeutics in a research note on Thursday, September 29th. They set an “overweight” rating and a $41.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.22.

Insider Buying and Selling

In related news, insider John Renger sold 25,000 shares of Cerevel Therapeutics stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $30.00, for a total value of $750,000.00. Following the transaction, the insider now directly owns 2,704 shares of the company’s stock, valued at $81,120. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider John Renger sold 25,000 shares of Cerevel Therapeutics stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $30.00, for a total value of $750,000.00. Following the transaction, the insider now directly owns 2,704 shares of the company’s stock, valued at $81,120. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Abraham Ceesay sold 19,210 shares of Cerevel Therapeutics stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $32.50, for a total transaction of $624,325.00. The disclosure for this sale can be found here. Insiders have sold a total of 91,915 shares of company stock valued at $2,842,685 over the last three months. 4.30% of the stock is owned by company insiders.

Cerevel Therapeutics Stock Up 1.4 %

Shares of NASDAQ CERE opened at $28.80 on Monday. The company has a quick ratio of 16.64, a current ratio of 16.64 and a debt-to-equity ratio of 0.56. Cerevel Therapeutics Holdings, Inc. has a 52 week low of $19.86 and a 52 week high of $41.46. The firm’s fifty day moving average is $27.91 and its 200 day moving average is $28.13. The company has a market cap of $4.50 billion, a price-to-earnings ratio of -13.52 and a beta of 1.63.

Cerevel Therapeutics Profile

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Cerevel Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, engages in the development of various therapies for neuroscience diseases. 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 in epilepsy or focal epilepsy, as well as in phase 1 trial to treat acute anxiety.

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

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