Rafferty Asset Management LLC lowered its position in shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 32.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,835 shares of the biotechnology company’s stock after selling 19,750 shares during the period. Rafferty Asset Management LLC’s holdings in Cerevel Therapeutics were worth $1,072,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. E Fund Management Co. Ltd. purchased a new position in Cerevel Therapeutics during the first quarter valued at approximately $34,000. JPMorgan Chase & Co. purchased a new position in Cerevel Therapeutics during the first quarter valued at approximately $36,000. Ameritas Investment Partners Inc. purchased a new position in Cerevel Therapeutics during the second quarter valued at approximately $71,000. Arizona State Retirement System purchased a new position in Cerevel Therapeutics during the second quarter valued at approximately $222,000. Finally, Wolverine Asset Management LLC purchased a new position in Cerevel Therapeutics in the 1st quarter worth approximately $120,000. 71.21% of the stock is owned by institutional investors.
In other news, Director Perceptive Advisors Llc purchased 44,437 shares of the company’s stock in a transaction on Monday, August 23rd. The stock was acquired at an average price of $25.78 per share, with a total value of $1,145,585.86. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 305,824 shares of company stock valued at $7,899,412 in the last three months. 3.60% of the stock is currently owned by corporate insiders.
Cerevel Therapeutics (NASDAQ:CERE) last announced its quarterly earnings results on Wednesday, August 11th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.01). As a group, equities analysts predict that Cerevel Therapeutics Holdings, Inc. will post -1.63 earnings per share for the current fiscal year.
A number of brokerages have recently commented on CERE. Stifel Nicolaus increased their price target on shares of Cerevel Therapeutics from $21.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 13th. Morgan Stanley increased their price target on shares of Cerevel Therapeutics from $27.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, September 7th. Finally, Zacks Investment Research lowered shares of Cerevel Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, July 19th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $27.80.
Cerevel Therapeutics Company Profile
Cerevel Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, engages in the development of various therapies for neuroscience diseases. It is developing CVL-231, a positive allosteric modulator (PAM) that is in Phase Ib clinical trials for the treatment of schizophrenia; and Darigabat, a PAM, which is in Phase II proof-of-concept trials in drug-resistant focal onset seizures in epilepsy or focal onset epilepsy, as well as Phase I proof-of-principle trial for acute anxiety.
Featured Article: Market Timing
Want to see what other hedge funds are holding CERE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE).
Receive News & Ratings for Cerevel Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerevel Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.