Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Short Interest Update

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) was the target 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. Approximately 6.8% of the shares of the stock are sold short. Based on an average daily volume of 1,610,000 shares, the days-to-cover ratio is currently 3.7 days.

Cerevel Therapeutics Trading Up 0.7 %

Shares of CERE stock traded up $0.33 on Thursday, hitting $44.96. 15,096,384 shares of the stock traded hands, compared to its average volume of 2,084,436. Cerevel Therapeutics has a twelve month low of $19.59 and a twelve month high of $44.99. The stock has a market capitalization of $8.19 billion, a PE ratio of -16.47 and a beta of 1.40. The firm’s 50-day moving average price is $41.56 and its two-hundred day moving average price is $41.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 10.22 and a current ratio of 10.22.

Cerevel Therapeutics (NASDAQ:CERE) 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). As a group, analysts anticipate that Cerevel Therapeutics will post -2.59 EPS for the current year.

Insiders Place Their Bets

In other news, Director N Anthony Coles sold 50,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 15,638 shares in the company, valued at $658,359.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc purchased a new stake in Cerevel Therapeutics in the second quarter valued at $208,000. Maryland State Retirement & Pension System purchased a new position in Cerevel Therapeutics during the second quarter worth about $220,000. SG Americas Securities LLC increased its position in shares of Cerevel Therapeutics by 508.8% during the second quarter. SG Americas Securities LLC now owns 29,424 shares of the biotechnology company’s stock valued at $1,203,000 after acquiring an additional 24,591 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Cerevel Therapeutics in the 2nd quarter valued at approximately $127,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Cerevel Therapeutics by 63.9% in the 1st quarter. California State Teachers Retirement System now owns 122,437 shares of the biotechnology company’s stock worth $5,175,000 after acquiring an additional 47,747 shares during the last quarter. 87.73% of the stock is currently owned by institutional investors and hedge funds.

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.