Traders Purchase High Volume of Cerevel Therapeutics Call Options (NASDAQ:CERE)

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 7,125 call options on the stock. This is an increase of approximately 399% compared to the average volume of 1,428 call options.

Insider Transactions at Cerevel Therapeutics

In other Cerevel Therapeutics news, Director N Anthony Coles sold 50,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 15,638 shares of the company’s stock, valued at approximately $658,359.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Cerevel Therapeutics

A number of large investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in Cerevel Therapeutics during the first quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Cerevel Therapeutics during the 4th quarter valued at $71,000. Centaurus Financial Inc. purchased a new position in Cerevel Therapeutics in the 4th quarter worth $119,000. PNC Financial Services Group Inc. lifted its stake in Cerevel Therapeutics by 68.5% in the third quarter. PNC Financial Services Group Inc. now owns 9,506 shares of the biotechnology company’s stock worth $208,000 after purchasing an additional 3,866 shares during the last quarter. Finally, GAM Holding AG purchased a new stake in Cerevel Therapeutics during the fourth quarter valued at about $212,000. 87.73% of the stock is owned by hedge funds and other institutional investors.

Cerevel Therapeutics Stock Performance

Shares of Cerevel Therapeutics stock traded down $0.93 on Wednesday, hitting $40.30. 4,680,648 shares of the company traded hands, compared to its average volume of 1,555,319. Cerevel Therapeutics has a 12-month low of $19.59 and a 12-month high of $43.59. The firm’s 50-day simple moving average is $41.49 and its 200 day simple moving average is $41.83. The company has a debt-to-equity ratio of 0.60, a quick ratio of 10.22 and a current ratio of 10.22.

Cerevel Therapeutics (NASDAQ:CERE) last released its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.12). On average, analysts expect that Cerevel Therapeutics will post -2.59 EPS for the current 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.