Capital International Investors Lowers Position in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Capital International Investors cut its stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 70.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 253,495 shares of the biotechnology company’s stock after selling 610,291 shares during the quarter. Capital International Investors owned 0.14% of Cerevel Therapeutics worth $10,715,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Avoro Capital Advisors LLC boosted its holdings in shares of Cerevel Therapeutics by 690.7% in the fourth quarter. Avoro Capital Advisors LLC now owns 7,555,555 shares of the biotechnology company’s stock worth $320,356,000 after acquiring an additional 6,600,000 shares during the period. Bain Capital Investors LLC raised its position in shares of Cerevel Therapeutics by 9.1% in 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 buying an additional 5,480,052 shares in the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of Cerevel Therapeutics in the fourth quarter worth $69,710,000. Vanguard Group Inc. raised its position in shares of Cerevel Therapeutics by 15.8% in the fourth quarter. Vanguard Group Inc. now owns 7,374,970 shares of the biotechnology company’s stock worth $312,699,000 after buying an additional 1,003,594 shares in the last quarter. Finally, Perceptive Advisors LLC raised its position in shares of Cerevel Therapeutics by 8.7% in the fourth quarter. Perceptive Advisors LLC now owns 10,965,193 shares of the biotechnology company’s stock worth $464,924,000 after buying an additional 876,808 shares in the last quarter. 87.73% of the stock is owned by institutional investors.

Cerevel Therapeutics Price Performance

Shares of CERE stock traded up $0.22 on Friday, reaching $44.62. The company’s stock had a trading volume of 1,974,794 shares, compared to its average volume of 1,601,674. The company has a quick ratio of 10.22, a current ratio of 10.22 and a debt-to-equity ratio of 0.60. Cerevel Therapeutics Holdings, Inc. has a 12-month low of $19.59 and a 12-month high of $44.66. The company has a market capitalization of $8.13 billion, a P/E ratio of -16.34 and a beta of 1.40. The stock’s 50 day simple moving average is $41.39 and its 200-day simple moving average is $41.84.

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). As a group, equities analysts predict that Cerevel Therapeutics Holdings, Inc. will post -2.59 earnings per share for the current fiscal year.

Insider Activity

In related news, Director N Anthony Coles sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $41.18, for a total value of $1,029,500.00. Following the sale, the director now directly owns 25,928 shares of the company’s stock, valued at $1,067,715.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.10% of the company’s stock.

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.