Strs Ohio Increases Stock Holdings in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Strs Ohio raised its stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE – Get Rating) by 143.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,900 shares of the biotechnology company’s stock after purchasing an additional 2,300 shares during the period. Strs Ohio’s holdings in Cerevel Therapeutics were worth $110,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. High Net Worth Advisory Group LLC purchased a new position in shares of Cerevel Therapeutics during the third quarter worth approximately $28,000. Nisa Investment Advisors LLC grew its position in shares of Cerevel Therapeutics by 46.8% during the second quarter. Nisa Investment Advisors LLC now owns 1,380 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 440 shares during the last quarter. Centaurus Financial Inc. purchased a new position in shares of Cerevel Therapeutics during the first quarter worth approximately $105,000. Amundi purchased a new position in shares of Cerevel Therapeutics during the second quarter worth approximately $190,000. Finally, Sei Investments Co. purchased a new position in shares of Cerevel Therapeutics during the second quarter worth approximately $294,000.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CERE. Cantor Fitzgerald raised their target price on shares of Cerevel Therapeutics from $41.00 to $46.00 in a research report on Tuesday, December 20th. Loop Capital initiated coverage on Cerevel Therapeutics in a report on Tuesday, November 1st. They set a “buy” rating and a $40.00 price target for the company. Bank of America initiated coverage on Cerevel Therapeutics in a report on Thursday, October 20th. They set a “buy” rating and a $39.00 price target for the company. JPMorgan Chase & Co. decreased their price target on Cerevel Therapeutics from $49.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, December 6th. Finally, HC Wainwright decreased their price target on Cerevel Therapeutics from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, November 9th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cerevel Therapeutics has an average rating of “Moderate Buy” and an average price target of $39.67.

Cerevel Therapeutics Price Performance

Cerevel Therapeutics stock opened at $32.84 on Friday. Cerevel Therapeutics Holdings, Inc. has a one year low of $19.86 and a one year high of $41.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 16.64 and a current ratio of 16.64. The business has a fifty day moving average of $29.71 and a two-hundred day moving average of $29.32. The company has a market cap of $5.13 billion, a P/E ratio of -15.42 and a beta of 1.47.

Cerevel Therapeutics (NASDAQ:CERE – Get Rating) last released its earnings results on Tuesday, November 8th. The biotechnology company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.04). As a group, analysts predict that Cerevel Therapeutics Holdings, Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Transactions at Cerevel Therapeutics

In other news, CEO N Anthony Coles sold 50,000 shares of Cerevel Therapeutics stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $29.94, for a total transaction of $1,497,000.00. Following the completion of the transaction, the chief executive officer now owns 2,704 shares of the company’s stock, valued at approximately $80,957.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.30% of the company’s stock.

About Cerevel Therapeutics

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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.