Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE – Get Free Report) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totalling 5,980,000 shares, a drop of 9.3% from the June 30th total of 6,590,000 shares. Currently, 6.8% of the company’s shares are short sold. Based on an average daily volume of 1,610,000 shares, the days-to-cover ratio is currently 3.7 days.
Insider Buying and Selling
In related news, Director N Anthony Coles sold 50,000 shares of Cerevel Therapeutics 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 transaction, the director now owns 15,638 shares of the company’s stock, valued at approximately $658,359.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.10% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of CERE. Vanguard Group Inc. grew its position in Cerevel Therapeutics by 12.5% in the third quarter. Vanguard Group Inc. now owns 6,371,376 shares of the biotechnology company’s stock valued at $139,087,000 after acquiring an additional 708,826 shares during the period. GAM Holding AG bought a new stake in Cerevel Therapeutics in the fourth quarter valued at $212,000. Arizona State Retirement System grew its position in Cerevel Therapeutics by 10.9% in the fourth quarter. Arizona State Retirement System now owns 19,816 shares of the biotechnology company’s stock valued at $840,000 after acquiring an additional 1,954 shares during the period. International Assets Investment Management LLC bought a new stake in Cerevel Therapeutics in the fourth quarter valued at $23,370,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Cerevel Therapeutics by 6.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,363 shares of the biotechnology company’s stock valued at $1,542,000 after acquiring an additional 2,117 shares during the period. 87.73% of the stock is currently owned by institutional investors and hedge funds.
Cerevel Therapeutics Stock Up 0.7 %
Cerevel Therapeutics (NASDAQ:CERE – Get Free Report) last posted its earnings results on Wednesday, May 8th. The biotechnology company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.12). Analysts anticipate that Cerevel Therapeutics will post -2.59 EPS 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.
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