Ghost Tree Capital LLC Makes New $1.92 Million Investment in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Ghost Tree Capital LLC purchased a new position in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 75,000 shares of the biotechnology company’s stock, valued at approximately $1,922,000. Ghost Tree Capital LLC owned about 0.06% of Cerevel Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CERE. Federated Hermes Inc. grew its holdings in Cerevel Therapeutics by 104.9% in the first quarter. Federated Hermes Inc. now owns 1,950,000 shares of the biotechnology company’s stock worth $26,774,000 after purchasing an additional 998,300 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Cerevel Therapeutics by 3,739.7% during the first quarter. Bank of New York Mellon Corp now owns 830,788 shares of the biotechnology company’s stock worth $11,407,000 after buying an additional 809,151 shares during the period. Woodline Partners LP acquired a new stake in shares of Cerevel Therapeutics during the first quarter worth $5,395,000. Millennium Management LLC lifted its stake in shares of Cerevel Therapeutics by 976.6% during the first quarter. Millennium Management LLC now owns 426,016 shares of the biotechnology company’s stock worth $5,849,000 after buying an additional 386,444 shares during the period. Finally, Verition Fund Management LLC lifted its stake in shares of Cerevel Therapeutics by 638.1% during the first quarter. Verition Fund Management LLC now owns 261,504 shares of the biotechnology company’s stock worth $3,590,000 after buying an additional 226,074 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on CERE. Morgan Stanley lifted their price objective on shares of Cerevel Therapeutics from $27.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 7th. Stifel Nicolaus lifted their price objective on shares of Cerevel Therapeutics from $21.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 13th. Finally, Zacks Investment Research downgraded shares of Cerevel Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, July 19th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $27.80.

In other news, Director Perceptive Advisors Llc acquired 44,437 shares of the firm’s stock in a transaction on Monday, August 23rd. The stock was acquired at an average price of $25.78 per share, for a total transaction of $1,145,585.86. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders acquired 305,824 shares of company stock valued at $7,899,412. Insiders own 3.60% of the company’s stock.

NASDAQ CERE traded down $0.38 on Friday, reaching $36.10. 6,444 shares of the company’s stock traded hands, compared to its average volume of 489,635. The stock has a 50 day moving average price of $27.61 and a 200-day moving average price of $19.42. Cerevel Therapeutics Holdings, Inc. has a fifty-two week low of $9.00 and a fifty-two week high of $37.29.

Cerevel Therapeutics (NASDAQ:CERE) last posted its earnings results on Wednesday, August 11th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). Research analysts expect that Cerevel Therapeutics Holdings, Inc. will post -1.63 earnings per share for the current year.

Cerevel Therapeutics Company Profile

Cerevel Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, engages in the development of various therapies for neuroscience diseases. It is developing CVL-231, a positive allosteric modulator (PAM) that is in Phase Ib clinical trials for the treatment of schizophrenia; and Darigabat, a PAM, which is in Phase II proof-of-concept trials in drug-resistant focal onset seizures in epilepsy or focal onset epilepsy, as well as Phase I proof-of-principle trial for acute anxiety.

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Institutional Ownership by Quarter for Cerevel Therapeutics (NASDAQ:CERE)

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