BCK Capital Management LP Makes New Investment in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

BCK Capital Management LP bought a new position in shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 22,000 shares of the biotechnology company's stock, valued at approximately $933,000.

Other hedge funds also recently made changes to their positions in the company. GAM Holding AG purchased a new position in shares of Cerevel Therapeutics in the 4th quarter worth about $212,000. FNY Investment Advisers LLC purchased a new position in shares of Cerevel Therapeutics in the 4th quarter worth about $339,000. PNC Financial Services Group Inc. boosted its holdings in shares of Cerevel Therapeutics by 68.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,506 shares of the biotechnology company's stock worth $208,000 after buying an additional 3,866 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Cerevel Therapeutics by 8.8% in the 4th quarter. Amalgamated Bank now owns 10,027 shares of the biotechnology company's stock worth $425,000 after buying an additional 809 shares during the last quarter. Finally, E Fund Management Co. Ltd. lifted its holdings in Cerevel Therapeutics by 7.6% during the third quarter. E Fund Management Co. Ltd. now owns 10,223 shares of the biotechnology company's stock valued at $223,000 after purchasing an additional 722 shares during the last quarter. 87.73% of the stock is currently owned by institutional investors.

Insider Transactions at Cerevel Therapeutics

In related news, insider John Renger sold 2,161 shares of the company's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $41.54, for a total value of $89,767.94. Following the transaction, the insider now directly owns 6,370 shares in the company, valued at $264,609.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider John Renger sold 2,161 shares of the company's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $41.54, for a total value of $89,767.94. Following the transaction, the insider now directly owns 6,370 shares in the company, valued at $264,609.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director N Anthony Coles sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The stock was 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 owns 15,638 shares in the company, valued at $643,660.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,667 shares of company stock valued at $4,302,367. 5.10% of the stock is currently owned by corporate insiders.

Cerevel Therapeutics Price Performance

Shares of Cerevel Therapeutics stock traded down $0.03 on Monday, reaching $42.52. The stock had a trading volume of 676,474 shares, compared to its average volume of 1,439,426. Cerevel Therapeutics Holdings, Inc. has a 1 year low of $19.59 and a 1 year high of $43.59. The company has a market cap of $7.72 billion, a P/E ratio of -16.98 and a beta of 1.46. 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 business's 50 day moving average is $41.99 and its two-hundred day moving average is $37.87.

Analyst Ratings Changes

Separately, Mizuho upped their price objective on shares of Cerevel Therapeutics from $25.00 to $45.00 and gave the company a "neutral" rating in a 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 company's stock. Based on data from MarketBeat.com, Cerevel Therapeutics has a consensus rating of "Hold" and an average target price of $42.67.

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.

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