Arizona State Retirement System Has $840,000 Holdings in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Arizona State Retirement System grew its stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 10.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,816 shares of the biotechnology company’s stock after buying an additional 1,954 shares during the quarter. Arizona State Retirement System’s holdings in Cerevel Therapeutics were worth $840,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in Cerevel Therapeutics by 19.4% during the third quarter. Royal Bank of Canada now owns 2,959 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 480 shares during the last quarter. Centaurus Financial Inc. acquired a new position in Cerevel Therapeutics during the first quarter worth $105,000. Tower Research Capital LLC TRC boosted its holdings in Cerevel Therapeutics by 59.4% during the second quarter. Tower Research Capital LLC TRC now owns 4,262 shares of the biotechnology company’s stock worth $135,000 after purchasing an additional 1,588 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Cerevel Therapeutics by 11.5% during the second quarter. Ameritas Investment Partners Inc. now owns 5,110 shares of the biotechnology company’s stock worth $162,000 after purchasing an additional 526 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in Cerevel Therapeutics during the second quarter worth $179,000. Institutional investors and hedge funds own 87.73% of the company’s stock.

Cerevel Therapeutics Price Performance

Shares of CERE opened at $41.60 on Thursday. The firm has a market capitalization of $7.55 billion, a PE ratio of -16.64 and a beta of 1.48. The company’s 50-day moving average is $41.95 and its 200-day moving average is $36.05. Cerevel Therapeutics Holdings, Inc. has a fifty-two week low of $19.59 and a fifty-two week high of $43.59. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.92 and a quick ratio of 10.92.

Insider Buying and Selling

In related news, Director N Anthony Coles sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $41.01, for a total transaction of $2,050,500.00. Following the transaction, the director now directly owns 15,638 shares of the company’s stock, valued at $641,314.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related 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 transaction of $89,767.94. Following the transaction, the insider now directly owns 6,370 shares of the company’s stock, valued at $264,609.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director N Anthony Coles sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $41.01, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 104,667 shares of company stock valued at $4,302,367. 5.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CERE shares. Mizuho increased their target price on shares of Cerevel Therapeutics from $25.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. JPMorgan Chase & Co. increased their price target on shares of Cerevel Therapeutics from $25.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, December 28th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $45.00 price target (up previously from $40.00) on shares of Cerevel Therapeutics in a research note on Friday, December 22nd. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $41.40.

Cerevel Therapeutics 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.