Calamos Advisors LLC Acquires New Holdings in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Calamos Advisors LLC purchased a new position in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 305,303 shares of the biotechnology company’s stock, valued at approximately $12,945,000.

Several other institutional investors also recently added to or reduced their stakes in CERE. Royal Bank of Canada increased its position in Cerevel Therapeutics by 19.4% in the 3rd quarter. Royal Bank of Canada now owns 2,959 shares of the biotechnology company’s stock worth $83,000 after buying an additional 480 shares during the period. Centaurus Financial Inc. bought a new position in Cerevel Therapeutics in the 1st quarter worth approximately $105,000. Tower Research Capital LLC TRC increased its position in Cerevel Therapeutics by 59.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,262 shares of the biotechnology company’s stock worth $135,000 after buying an additional 1,588 shares during the period. Ameritas Investment Partners Inc. increased its position in Cerevel Therapeutics by 11.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,110 shares of the biotechnology company’s stock worth $162,000 after buying an additional 526 shares during the period. Finally, PNC Financial Services Group Inc. bought a new position in Cerevel Therapeutics in the 2nd quarter worth approximately $179,000. 87.73% of the stock is owned by institutional investors.

Cerevel Therapeutics Price Performance

Shares of CERE stock opened at $42.21 on Friday. The stock’s fifty day simple moving average is $41.94 and its 200 day simple moving average is $36.24. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.92 and a quick ratio of 10.92. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of -16.88 and a beta of 1.48. Cerevel Therapeutics Holdings, Inc. has a one year low of $19.59 and a one year high of $43.59.

Wall Street Analysts Forecast Growth

CERE has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Cerevel Therapeutics from $25.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, December 28th. Jefferies Financial Group restated a “hold” rating and set a $45.00 price objective (up from $40.00) on shares of Cerevel Therapeutics in a research report on Friday, December 22nd. Finally, Mizuho boosted their price objective on Cerevel Therapeutics from $25.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $41.40.

Insider Activity at Cerevel Therapeutics

In related news, insider John Renger sold 2,161 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $41.54, for a total value of $89,767.94. Following the sale, the insider now owns 6,370 shares of the company’s stock, valued at approximately $264,609.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cerevel Therapeutics news, Director N Anthony Coles sold 50,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 15,638 shares of the company’s stock, valued at $641,314.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Renger sold 2,161 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $41.54, for a total value of $89,767.94. Following the completion of the transaction, 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. Insiders have sold a total of 104,667 shares of company stock valued at $4,302,367 in the last 90 days. 5.10% of the stock is owned by corporate insiders.

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.