Assenagon Asset Management S.A. Invests $12.72 Million in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Assenagon Asset Management S.A. bought a new stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 299,891 shares of the biotechnology company’s stock, valued at approximately $12,715,000. Assenagon Asset Management S.A. owned approximately 0.17% of Cerevel Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Cerevel Therapeutics by 17.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,874,001 shares of the biotechnology company’s stock valued at $165,999,000 after buying an additional 861,581 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Cerevel Therapeutics by 100.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,505,976 shares of the biotechnology company’s stock worth $32,875,000 after purchasing an additional 755,976 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in Cerevel Therapeutics by 69.3% during the third quarter. Westfield Capital Management Co. LP now owns 974,483 shares of the biotechnology company’s stock worth $21,273,000 after purchasing an additional 398,949 shares during the period. Balyasny Asset Management L.P. bought a new position in Cerevel Therapeutics during the first quarter worth about $8,527,000. Finally, BlackRock Inc. boosted its holdings in Cerevel Therapeutics by 7.8% during the second quarter. BlackRock Inc. now owns 4,832,707 shares of the biotechnology company’s stock valued at $153,632,000 after purchasing an additional 347,766 shares in the last quarter. 87.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CERE has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on Cerevel Therapeutics from $25.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, December 28th. Piper Sandler restated a “neutral” rating and issued a $45.00 target price (up previously from $33.00) on shares of Cerevel Therapeutics in a research note on Thursday, December 7th. Jefferies Financial Group reiterated a “hold” rating and set a $45.00 target price (up previously from $40.00) on shares of Cerevel Therapeutics in a research report on Friday, December 22nd. HC Wainwright lowered shares of Cerevel Therapeutics from a “buy” rating to a “neutral” rating and boosted their price target for the company from $41.00 to $45.00 in a research report on Thursday, December 7th. Finally, Mizuho upped their price objective 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $41.40.

Cerevel Therapeutics Price Performance

Shares of CERE stock opened at $42.27 on Friday. Cerevel Therapeutics Holdings, Inc. has a 1 year low of $19.59 and a 1 year high of $43.59. The company has a current ratio of 10.92, a quick ratio of 10.92 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $41.93 and its 200-day moving average is $33.97. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of -16.91 and a beta of 1.49.

Insiders Place Their Bets

In other news, insider John Renger sold 2,161 shares of Cerevel Therapeutics stock in a transaction 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 completion of the sale, the insider now directly owns 6,370 shares of the company’s stock, valued at approximately $264,609.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John Renger sold 2,161 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were 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 of the company’s stock, valued at approximately $264,609.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director N Anthony Coles sold 2,506 shares of the business’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 transaction of $104,099.24. Following the sale, the director now directly owns 15,638 shares of the company’s stock, valued at $649,602.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,667 shares of company stock valued at $4,302,367. 5.10% of the stock is currently owned by corporate insiders.

Cerevel Therapeutics Company Profile

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.