International Assets Investment Management LLC Purchases Shares of 55,120 Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

International Assets Investment Management LLC acquired a new position in shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 55,120 shares of the biotechnology company’s stock, valued at approximately $23,370,000.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in Cerevel Therapeutics by 1.4% during the third quarter. Bank of New York Mellon Corp now owns 263,690 shares of the biotechnology company’s stock worth $5,756,000 after acquiring an additional 3,590 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cerevel Therapeutics by 19.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,079 shares of the biotechnology company’s stock worth $264,000 after acquiring an additional 1,925 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Cerevel Therapeutics by 82.9% in the 3rd quarter. TD Asset Management Inc now owns 372,146 shares of the biotechnology company’s stock valued at $8,124,000 after acquiring an additional 168,697 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Cerevel Therapeutics by 4.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 17,818 shares of the biotechnology company’s stock valued at $389,000 after acquiring an additional 818 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Cerevel Therapeutics by 11.1% during the 3rd quarter. Barclays PLC now owns 145,910 shares of the biotechnology company’s stock valued at $3,185,000 after acquiring an additional 14,568 shares in the last quarter. 87.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cerevel Therapeutics

In other Cerevel Therapeutics news, Director N Anthony Coles sold 2,506 shares of Cerevel Therapeutics stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $41.54, for a total transaction of $104,099.24. Following the sale, the director now directly owns 15,638 shares in the company, valued at approximately $649,602.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John Renger sold 2,161 shares of Cerevel Therapeutics stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $41.54, for a total value of $89,767.94. Following the completion of the transaction, the insider now directly owns 6,370 shares in the company, valued at $264,609.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director N Anthony Coles sold 2,506 shares of Cerevel Therapeutics stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $41.54, for a total value of $104,099.24. Following the completion of the transaction, the director now owns 15,638 shares of the company’s stock, valued at approximately $649,602.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,667 shares of company stock valued at $4,302,367. Insiders own 5.10% of the company’s stock.

Wall Street Analyst Weigh In

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

Cerevel Therapeutics Stock Performance

NASDAQ:CERE opened at $42.55 on Friday. Cerevel Therapeutics Holdings, Inc. has a 1-year low of $19.59 and a 1-year high of $43.59. The stock has a market cap of $7.73 billion, a P/E ratio of -17.02 and a beta of 1.46. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.92 and a quick ratio of 10.92. The firm has a 50-day moving average of $41.99 and a two-hundred day moving average of $37.66.

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.