TD Asset Management Inc. increased its position in shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 12.9% during the third quarter, Holdings Channel.com reports. The fund owned 174,476 shares of the biotechnology company’s stock after acquiring an additional 19,886 shares during the quarter. TD Asset Management Inc.’s holdings in Cerevel Therapeutics were worth $5,147,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in CERE. Rhumbline Advisers acquired a new position in Cerevel Therapeutics during the second quarter worth about $724,000. Swiss National Bank acquired a new position in Cerevel Therapeutics during the second quarter worth about $1,796,000. Sei Investments Co. acquired a new position in Cerevel Therapeutics during the second quarter worth about $776,000. Virtus ETF Advisers LLC acquired a new position in Cerevel Therapeutics during the second quarter worth about $422,000. Finally, Ghost Tree Capital LLC acquired a new position in Cerevel Therapeutics during the second quarter worth about $1,922,000. 99.48% of the stock is currently owned by hedge funds and other institutional investors.
CERE has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their target price on Cerevel Therapeutics from $30.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, October 8th. JPMorgan Chase & Co. assumed coverage on Cerevel Therapeutics in a research note on Wednesday, January 5th. They issued an “overweight” rating and a $50.00 price target on the stock. Stifel Nicolaus lifted their price target on Cerevel Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, November 10th. HC Wainwright assumed coverage on Cerevel Therapeutics in a research note on Thursday, December 16th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Zacks Investment Research raised Cerevel Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Cerevel Therapeutics has a consensus rating of “Buy” and a consensus price target of $41.83.
Cerevel Therapeutics (NASDAQ:CERE) last released its earnings results on Wednesday, November 10th. The biotechnology company reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.03). During the same quarter in the prior year, the firm earned ($4.83) earnings per share. As a group, equities analysts forecast that Cerevel Therapeutics Holdings, Inc. will post -1.65 earnings per share for the current fiscal year.
In other Cerevel Therapeutics news, insider John Renger sold 55,000 shares of Cerevel Therapeutics stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $39.86, for a total transaction of $2,192,300.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 104,422 shares of company stock worth $3,761,515. Company insiders own 3.60% of the company’s stock.
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.
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