Pacific Capital Wealth Advisors Inc. Makes New $71,000 Investment in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Pacific Capital Wealth Advisors Inc. bought a new position in shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,672 shares of the biotechnology company’s stock, valued at approximately $71,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its holdings in Cerevel Therapeutics by 0.6% during the third quarter. FMR LLC now owns 23,623,144 shares of the biotechnology company’s stock worth $515,693,000 after purchasing an additional 129,355 shares in the last quarter. Vanguard Group Inc. grew its holdings in Cerevel Therapeutics by 12.5% during the third quarter. Vanguard Group Inc. now owns 6,371,376 shares of the biotechnology company’s stock worth $139,087,000 after acquiring an additional 708,826 shares during the period. Rock Springs Capital Management LP raised its position in Cerevel Therapeutics by 0.6% in the third quarter. Rock Springs Capital Management LP now owns 2,529,116 shares of the biotechnology company’s stock worth $55,211,000 after acquiring an additional 15,200 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Cerevel Therapeutics by 100.8% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,505,976 shares of the biotechnology company’s stock worth $32,875,000 after purchasing an additional 755,976 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of Cerevel Therapeutics by 69.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 974,483 shares of the biotechnology company’s stock worth $21,273,000 after purchasing an additional 398,949 shares during the period. Hedge funds and other institutional investors own 87.73% of the company’s stock.

Analyst Ratings Changes

Separately, Mizuho boosted their price objective on shares of Cerevel Therapeutics from $25.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.67.

Insider Buying and Selling

In other Cerevel Therapeutics news, Director N Anthony Coles sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $41.01, for a total transaction of $2,050,500.00. Following the completion of the sale, the director now directly owns 15,638 shares in the company, valued at $641,314.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.10% of the company’s stock.

Cerevel Therapeutics Trading Down 0.5 %

NASDAQ:CERE traded down $0.20 on Wednesday, hitting $42.06. 1,120,892 shares of the stock were exchanged, compared to its average volume of 1,429,548. The stock has a fifty day moving average of $42.04 and a 200-day moving average of $38.14. The stock has a market cap of $7.64 billion, a PE ratio of -16.88 and a beta of 1.46. The company has a current ratio of 10.92, a quick ratio of 10.92 and a debt-to-equity ratio of 0.50. Cerevel Therapeutics Holdings, Inc. has a fifty-two week low of $19.59 and a fifty-two week high of $43.59.

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.