Segantii Capital Management Ltd Buys Shares of 594,519 Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Segantii Capital Management Ltd purchased a new stake in shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 594,519 shares of the biotechnology company’s stock, valued at approximately $25,208,000. Cerevel Therapeutics accounts for approximately 1.3% of Segantii Capital Management Ltd’s investment portfolio, making the stock its 19th biggest holding. Segantii Capital Management Ltd owned 0.33% of Cerevel Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacific Capital Wealth Advisors Inc. purchased a new stake in Cerevel Therapeutics during the fourth quarter valued at approximately $71,000. Charles Schwab Investment Management Inc. raised its holdings in Cerevel Therapeutics by 25.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 649,333 shares of the biotechnology company’s stock worth $27,532,000 after purchasing an additional 132,089 shares during the period. BCK Capital Management LP purchased a new position in Cerevel Therapeutics during the fourth quarter valued at $933,000. Amalgamated Bank grew its holdings in Cerevel Therapeutics by 8.8% during the fourth quarter. Amalgamated Bank now owns 10,027 shares of the biotechnology company’s stock valued at $425,000 after purchasing an additional 809 shares during the period. Finally, Swiss National Bank increased its position in Cerevel Therapeutics by 1.3% in the fourth quarter. Swiss National Bank now owns 139,700 shares of the biotechnology company’s stock worth $5,923,000 after buying an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 87.73% of the company’s stock.

Cerevel Therapeutics Price Performance

CERE stock traded up $0.24 during mid-day trading on Thursday, hitting $42.30. The company had a trading volume of 1,076,538 shares, compared to its average volume of 1,425,532. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of -16.82 and a beta of 1.46. The company has a 50-day moving average price of $42.06 and a 200 day moving average price of $38.17. The company has a quick ratio of 10.92, a current ratio of 10.92 and a debt-to-equity ratio of 0.50. Cerevel Therapeutics Holdings, Inc. has a 12-month low of $19.59 and a 12-month high of $43.59.

Insider Buying and Selling at Cerevel Therapeutics

In other news, Director N Anthony Coles sold 50,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $41.01, for a total transaction of $2,050,500.00. Following the completion of the transaction, the director now directly owns 15,638 shares in the company, valued at approximately $641,314.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

About Cerevel Therapeutics

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.