20,300 Shares in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Bought by Kellner Capital LLC

Kellner Capital LLC bought a new position in shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 20,300 shares of the biotechnology company's stock, valued at approximately $861,000. Cerevel Therapeutics makes up approximately 1.6% of Kellner Capital LLC's portfolio, making the stock its 15th largest position.

Several other institutional investors have also recently added to or reduced their stakes in the business. E Fund Management Co. Ltd. lifted its stake in Cerevel Therapeutics by 7.6% in the third quarter. E Fund Management Co. Ltd. now owns 10,223 shares of the biotechnology company's stock valued at $223,000 after buying an additional 722 shares during the last quarter. Amalgamated Bank boosted its stake in Cerevel Therapeutics by 8.8% during the 4th quarter. Amalgamated Bank now owns 10,027 shares of the biotechnology company's stock worth $425,000 after purchasing an additional 809 shares during the period. Teacher Retirement System of Texas grew its position in Cerevel Therapeutics by 4.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 17,818 shares of the biotechnology company's stock worth $389,000 after purchasing an additional 818 shares during the last quarter. Alps Advisors Inc. increased its stake in Cerevel Therapeutics by 0.9% in the third quarter. Alps Advisors Inc. now owns 116,263 shares of the biotechnology company's stock valued at $2,538,000 after purchasing an additional 984 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Cerevel Therapeutics by 9.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,170 shares of the biotechnology company's stock valued at $558,000 after buying an additional 1,091 shares during the last quarter. Hedge funds and other institutional investors own 87.73% of the company's stock.

Insider Buying and Selling

In related news, 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 value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.10% of the company's stock.

Analyst Ratings Changes

Separately, Mizuho increased 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. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $42.67.

Cerevel Therapeutics Price Performance

Shares of CERE traded down $0.11 during trading hours on Friday, hitting $42.19. 474,428 shares of the company were exchanged, compared to its average volume of 1,417,574. The firm has a fifty day simple moving average of $42.08 and a 200-day simple moving average of $38.20. The company has a market capitalization of $7.66 billion, a PE ratio of -16.88 and a beta of 1.46. 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 one year low of $19.59 and a one year high of $43.59.

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.