Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Stock Holdings Decreased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lowered its stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 25.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,599 shares of the biotechnology company’s stock after selling 2,624 shares during the period. E Fund Management Co. Ltd.’s holdings in Cerevel Therapeutics were worth $322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CERE. Adage Capital Partners GP L.L.C. increased its position 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 purchasing an additional 755,976 shares during the last quarter. Vanguard Group Inc. grew its position in shares of 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 buying an additional 708,826 shares during the last quarter. Segantii Capital Management Ltd bought a new stake in shares of Cerevel Therapeutics during the 4th quarter valued at about $25,208,000. Westfield Capital Management Co. LP grew its position in shares of Cerevel Therapeutics by 69.3% during 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. Finally, Calamos Advisors LLC bought a new stake in shares of Cerevel Therapeutics during the 4th quarter valued at about $12,945,000. Institutional investors own 87.73% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Mizuho boosted their price objective on shares of Cerevel Therapeutics from $25.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $42.67.

Insider Buying and Selling at Cerevel Therapeutics

In other Cerevel Therapeutics news, Director N Anthony Coles sold 50,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $41.16, for a total transaction of $2,058,000.00. Following the completion of the transaction, the director now directly owns 15,638 shares of the company’s stock, valued at approximately $643,660.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.10% of the stock is currently owned by company insiders.

Cerevel Therapeutics Stock Performance

Cerevel Therapeutics stock traded up $0.24 during midday trading on Thursday, reaching $42.30. 1,295,038 shares of the stock traded hands, compared to its average volume of 1,425,626. 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 has a fifty day moving average price of $42.06 and a two-hundred day moving average price of $38.17. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of -16.92 and a beta of 1.46. Cerevel Therapeutics Holdings, Inc. has a fifty-two week low of $19.59 and a fifty-two week high of $43.59.

About Cerevel Therapeutics

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.