Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Short Interest Up 38.2% in March

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE - Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 9,620,000 shares, an increase of 38.2% from the March 15th total of 6,960,000 shares. Currently, 11.1% of the shares of the company are sold short. Based on an average daily trading volume, of 1,510,000 shares, the days-to-cover ratio is presently 6.4 days.

Cerevel Therapeutics Price Performance

NASDAQ CERE traded down $0.16 on Friday, hitting $41.85. 2,114,740 shares of the company were exchanged, compared to its average volume of 1,538,757. 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 company has a market cap of $7.60 billion, a P/E ratio of -16.80 and a beta of 1.48. Cerevel Therapeutics has a 1-year low of $19.59 and a 1-year high of $43.59. The firm has a 50 day moving average of $41.96 and a two-hundred day moving average of $35.38.

Insider Buying and Selling

In other Cerevel Therapeutics news, Director N Anthony Coles sold 50,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now owns 15,638 shares in the company, valued at approximately $641,314.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider John Renger sold 2,161 shares of Cerevel Therapeutics 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 sale, the insider now directly owns 6,370 shares in the company, valued at approximately $264,609.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director N Anthony Coles sold 50,000 shares of the 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 completion of the transaction, the director now directly owns 15,638 shares of the company's stock, valued at approximately $641,314.38. The disclosure for this sale can be found here. Insiders have sold a total of 104,667 shares of company stock valued at $4,302,367 over the last three months. 5.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cerevel Therapeutics

A number of large investors have recently modified their holdings of CERE. Pacific Capital Wealth Advisors Inc. acquired a new position in Cerevel Therapeutics during the 4th quarter valued at about $71,000. KBC Group NV acquired a new position in Cerevel Therapeutics in the fourth quarter valued at approximately $88,000. Centaurus Financial Inc. bought a new position in Cerevel Therapeutics in the fourth quarter valued at approximately $119,000. Royal Bank of Canada grew its holdings in Cerevel Therapeutics by 19.4% during the 3rd quarter. Royal Bank of Canada now owns 2,959 shares of the biotechnology company's stock worth $83,000 after acquiring an additional 480 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Cerevel Therapeutics by 59.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,262 shares of the biotechnology company's stock valued at $135,000 after acquiring an additional 1,588 shares during the last quarter. 87.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group reissued a "hold" rating and issued a $45.00 target price (up from $40.00) on shares of Cerevel Therapeutics in a report on Friday, December 22nd. JPMorgan Chase & Co. lifted their price objective on Cerevel Therapeutics from $25.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, December 28th. Finally, Mizuho upped 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. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $41.40.

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.

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