Armistice Capital, Llc Purchases 2,500,000 Shares of Cerecor Inc. (NASDAQ:CERC) Stock

Posted by on Jan 14th, 2021

Cerecor Inc. (NASDAQ:CERC) Director Armistice Capital, Llc acquired 2,500,000 shares of the stock in a transaction on Friday, January 8th. The shares were bought at an average cost of $2.60 per share, for a total transaction of $6,500,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Armistice Capital, Llc also recently made the following trade(s):

  • On Thursday, December 3rd, Armistice Capital, Llc acquired 20,000 shares of Cerecor stock. The shares were bought at an average cost of $2.44 per share, for a total transaction of $48,800.00.
  • On Wednesday, November 25th, Armistice Capital, Llc purchased 15,000 shares of Cerecor stock. The stock was acquired at an average cost of $2.39 per share, for a total transaction of $35,850.00.
  • On Monday, November 23rd, Armistice Capital, Llc purchased 37,267 shares of Cerecor stock. The stock was acquired at an average cost of $2.32 per share, for a total transaction of $86,459.44.

Shares of Cerecor stock opened at $2.74 on Thursday. Cerecor Inc. has a 52 week low of $1.52 and a 52 week high of $5.20. The business’s fifty day simple moving average is $2.64 and its 200-day simple moving average is $2.52. The firm has a market cap of $205.25 million, a PE ratio of -9.13 and a beta of 1.67.

Cerecor (NASDAQ:CERC) last announced its quarterly earnings results on Monday, November 9th. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.06). Cerecor had a negative net margin of 799.40% and a negative return on equity of 93.78%. The business had revenue of $1.11 million during the quarter, compared to analyst estimates of $1.50 million. On average, research analysts expect that Cerecor Inc. will post -0.45 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. American International Group Inc. lifted its stake in shares of Cerecor by 30.8% in the 2nd quarter. American International Group Inc. now owns 17,647 shares of the company’s stock valued at $46,000 after purchasing an additional 4,157 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Cerecor by 22.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 67,450 shares of the company’s stock valued at $176,000 after purchasing an additional 12,406 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Cerecor in the 2nd quarter valued at $37,000. California State Teachers Retirement System raised its holdings in shares of Cerecor by 45.1% in the 3rd quarter. California State Teachers Retirement System now owns 48,493 shares of the company’s stock valued at $110,000 after buying an additional 15,066 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Cerecor by 29.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 75,495 shares of the company’s stock valued at $196,000 after buying an additional 17,393 shares during the period. 66.41% of the stock is currently owned by institutional investors and hedge funds.

About Cerecor

Cerecor Inc, a biopharmaceutical company, focuses on development and commercialization of treatments for rare pediatric and orphan diseases. It develop therapies for the treatment of inherited metabolic disorders, such as CERC-801 and CERC-802, which completed the phase I clinical trial; and CERC-803.

Further Reading: Return on Investment (ROI)

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