Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP decreased its holdings in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 19.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 785,494 shares of the biotechnology company’s stock after selling 188,989 shares during the quarter. Westfield Capital Management Co. LP owned 0.44% of Cerevel Therapeutics worth $33,305,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Graham Capital Management L.P. raised its stake in shares of Cerevel Therapeutics by 304.6% during the 3rd quarter. Graham Capital Management L.P. now owns 41,850 shares of the biotechnology company’s stock worth $914,000 after buying an additional 31,506 shares during the period. Hudson Bay Capital Management LP purchased a new position in Cerevel Therapeutics during the third quarter valued at $1,092,000. Versor Investments LP acquired a new stake in shares of Cerevel Therapeutics in the fourth quarter valued at about $4,607,000. Calamos Advisors LLC purchased a new stake in shares of Cerevel Therapeutics during the fourth quarter worth about $12,945,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cerevel Therapeutics by 25.5% during 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 last quarter. Hedge funds and other institutional investors own 87.73% of the company’s stock.

Cerevel Therapeutics Stock Performance

Shares of CERE stock traded down $0.30 during trading hours on Friday, reaching $41.33. The company had a trading volume of 731,926 shares, compared to its average volume of 1,043,111. Cerevel Therapeutics Holdings, Inc. has a 12-month low of $19.59 and a 12-month high of $43.59. The company has a debt-to-equity ratio of 0.60, a current ratio of 10.22 and a quick ratio of 10.22. The stock has a fifty day moving average of $42.17 and a 200-day moving average of $39.68.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director N Anthony Coles sold 50,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $41.16, for a total transaction of $2,058,000.00. Following the transaction, the director now owns 15,638 shares of the company’s stock, valued at approximately $643,660.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 150,000 shares of company stock valued at $6,213,500 in the last three months. 5.10% of the stock is currently owned by insiders.

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.