Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Sees Significant Drop in Short Interest

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) saw a large decrease in short interest in June. As of June 15th, there was short interest totalling 6,360,000 shares, a decrease of 12.9% from the May 31st total of 7,300,000 shares. Based on an average daily trading volume, of 1,250,000 shares, the days-to-cover ratio is currently 5.1 days. Currently, 7.3% of the company’s shares are sold short.

Insider Buying and Selling at Cerevel Therapeutics

In other Cerevel Therapeutics news, Director N Anthony Coles sold 50,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $42.10, for a total value of $2,105,000.00. Following the completion of the sale, the director now directly owns 15,638 shares in the company, valued at approximately $658,359.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 5.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cerevel Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CERE. Avoro Capital Advisors LLC boosted its stake in shares of Cerevel Therapeutics by 690.7% in the 4th quarter. Avoro Capital Advisors LLC now owns 7,555,555 shares of the biotechnology company’s stock valued at $320,356,000 after buying an additional 6,600,000 shares during the period. Bain Capital Investors LLC lifted its stake in Cerevel Therapeutics by 9.1% during the fourth quarter. Bain Capital Investors LLC now owns 65,679,781 shares of the biotechnology company’s stock worth $2,784,823,000 after purchasing an additional 5,480,052 shares during the last quarter. Alpine Associates Management Inc. purchased a new stake in Cerevel Therapeutics during the fourth quarter worth approximately $69,710,000. Vanguard Group Inc. lifted its stake in Cerevel Therapeutics by 15.8% during the fourth quarter. Vanguard Group Inc. now owns 7,374,970 shares of the biotechnology company’s stock worth $312,699,000 after purchasing an additional 1,003,594 shares during the last quarter. Finally, Perceptive Advisors LLC lifted its stake in Cerevel Therapeutics by 8.7% during the fourth quarter. Perceptive Advisors LLC now owns 10,965,193 shares of the biotechnology company’s stock worth $464,924,000 after purchasing an additional 876,808 shares during the last quarter. Hedge funds and other institutional investors own 87.73% of the company’s stock.

Cerevel Therapeutics Trading Up 1.1 %

Cerevel Therapeutics stock traded up $0.46 during midday trading on Monday, reaching $41.35. 1,548,028 shares of the stock traded hands, compared to its average volume of 1,522,799. The company has a 50-day simple moving average of $41.51 and a two-hundred day simple moving average of $41.83. Cerevel Therapeutics has a 12-month low of $19.59 and a 12-month high of $43.59. The firm has a market cap of $7.53 billion, a PE ratio of -15.15 and a beta of 1.40. The company has a current ratio of 10.22, a quick ratio of 10.22 and a debt-to-equity ratio of 0.60.

Cerevel Therapeutics (NASDAQ:CERE) last announced its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.12). Research analysts expect that Cerevel Therapeutics will post -2.59 earnings per share for the current fiscal year.

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.