Segantii Capital Management Ltd Acquires Shares of 594,519 Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Segantii Capital Management Ltd purchased a new stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 594,519 shares of the biotechnology company's stock, valued at approximately $25,208,000. Cerevel Therapeutics accounts for approximately 1.3% of Segantii Capital Management Ltd's portfolio, making the stock its 19th biggest position. Segantii Capital Management Ltd owned approximately 0.33% of Cerevel Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Adage Capital Partners GP L.L.C. raised its holdings in 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 period. Vanguard Group Inc. lifted 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 in the last quarter. Westfield Capital Management Co. LP grew 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 acquiring an additional 398,949 shares during the period. Calamos Advisors LLC purchased a new stake in Cerevel Therapeutics in the 4th quarter worth $12,945,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Cerevel Therapeutics during the 4th quarter worth about $12,715,000. Hedge funds and other institutional investors own 87.73% of the company's stock.

Insider Activity at Cerevel Therapeutics

In other news, Director N Anthony Coles sold 50,000 shares of the business's stock in a transaction dated 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 transaction, the director now owns 15,638 shares of the company's stock, valued at approximately $641,314.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.10% of the company's stock.

Analysts Set New Price Targets

Separately, Mizuho boosted their price objective on Cerevel Therapeutics from $25.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, February 16th. Eight 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 price target of $42.67.

Cerevel Therapeutics Price Performance

CERE traded up $0.24 during trading on Thursday, reaching $42.30. The company's stock had a trading volume of 1,295,038 shares, compared to its average volume of 1,425,626. The company has a market cap of $7.68 billion, a price-to-earnings ratio of -16.92 and a beta of 1.46. The firm has a fifty day simple moving average of $42.08 and a two-hundred day simple moving average of $38.20. Cerevel Therapeutics Holdings, Inc. has a 1 year low of $19.59 and a 1 year high of $43.59. The company has a quick ratio of 10.92, a current ratio of 10.92 and a debt-to-equity ratio of 0.50.

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.