55,120 Shares in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new position in shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 55,120 shares of the biotechnology company's stock, valued at approximately $23,370,000.

Other institutional investors also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Cerevel Therapeutics by 0.6% during the third quarter. FMR LLC now owns 23,623,144 shares of the biotechnology company's stock valued at $515,693,000 after buying an additional 129,355 shares during the period. Vanguard Group Inc. lifted its stake 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 worth $139,087,000 after purchasing an additional 708,826 shares during the period. BlackRock Inc. boosted its holdings in shares of Cerevel Therapeutics by 7.8% during the second quarter. BlackRock Inc. now owns 4,832,707 shares of the biotechnology company's stock worth $153,632,000 after purchasing an additional 347,766 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Cerevel Therapeutics by 0.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,804,594 shares of the biotechnology company's stock valued at $151,537,000 after purchasing an additional 35,520 shares during the period. Finally, State Street Corp increased its stake in Cerevel Therapeutics by 12.6% in the third quarter. State Street Corp now owns 2,719,272 shares of the biotechnology company's stock valued at $76,847,000 after purchasing an additional 304,798 shares during the last quarter. 87.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CERE. Mizuho raised their price target on Cerevel Therapeutics from $25.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, February 16th. JPMorgan Chase & Co. raised their target price on shares of Cerevel Therapeutics from $25.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, December 28th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $45.00 price target (up previously from $40.00) on shares of Cerevel Therapeutics in a research report on Friday, December 22nd. Eight equities 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.com, the stock currently has a consensus rating of "Hold" and an average target price of $41.40.

Insider Activity

In related news, 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 sale, the director now directly owns 15,638 shares in the company, valued at approximately $641,314.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director N Anthony Coles sold 50,000 shares of the firm's stock in a transaction on 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 completion of the sale, the director now directly owns 15,638 shares of the company's stock, valued at approximately $641,314.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,667 shares of company stock valued at $4,302,367. Company insiders own 5.10% of the company's stock.

Cerevel Therapeutics Trading Down 0.2 %

CERE stock traded down $0.10 during midday trading on Thursday, reaching $42.01. 948,569 shares of the company's stock traded hands, compared to its average volume of 1,530,530. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.92 and a quick ratio of 10.92. Cerevel Therapeutics Holdings, Inc. has a fifty-two week low of $19.59 and a fifty-two week high of $43.59. The business has a 50-day moving average price of $41.96 and a two-hundred day moving average price of $35.33. The company has a market capitalization of $7.63 billion, a P/E ratio of -16.83 and a beta of 1.48.

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.