Victory Capital Management Inc. Invests $492,000 in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Victory Capital Management Inc. bought a new stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,592 shares of the biotechnology company’s stock, valued at approximately $492,000.

A number of other large investors also recently made changes to their positions in the company. FMR LLC grew its position in Cerevel Therapeutics by 0.6% during the 3rd quarter. FMR LLC now owns 23,623,144 shares of the biotechnology company’s stock worth $515,693,000 after acquiring an additional 129,355 shares during the last quarter. Vanguard Group Inc. boosted its stake in Cerevel Therapeutics by 12.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,371,376 shares of the biotechnology company’s stock valued at $139,087,000 after purchasing an additional 708,826 shares during the last quarter. Rock Springs Capital Management LP grew its holdings in Cerevel Therapeutics by 0.6% during the third quarter. Rock Springs Capital Management LP now owns 2,529,116 shares of the biotechnology company’s stock worth $55,211,000 after buying an additional 15,200 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of 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 worth $32,875,000 after acquiring an additional 755,976 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in Cerevel Therapeutics by 69.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 974,483 shares of the biotechnology company’s stock valued at $21,273,000 after buying an additional 398,949 shares during the last quarter. Institutional investors own 87.73% of the company’s stock.

Cerevel Therapeutics Stock Down 0.7 %

Shares of NASDAQ:CERE opened at $41.33 on Friday. Cerevel Therapeutics Holdings, Inc. has a 12 month low of $19.59 and a 12 month high of $43.59. The company has a quick ratio of 10.22, a current ratio of 10.22 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $42.17 and a 200-day moving average price of $39.58.

Wall Street Analysts Forecast Growth

Separately, Mizuho upped their price objective on Cerevel Therapeutics from $25.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Cerevel Therapeutics presently has an average rating of “Hold” and a consensus target price of $42.67.

Insider Buying and Selling at Cerevel Therapeutics

In related news, Director N Anthony Coles sold 50,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $41.01, for a total value of $2,050,500.00. Following the transaction, the director now directly owns 15,638 shares of the company’s stock, valued at approximately $641,314.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 150,000 shares of company stock worth $6,213,500. 5.10% of the stock is 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.