Pacific Capital Wealth Advisors Inc. Takes Position in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Pacific Capital Wealth Advisors Inc. acquired a new stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,672 shares of the biotechnology company’s stock, valued at approximately $71,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CERE. Charles Schwab Investment Management Inc. grew its holdings in shares of Cerevel Therapeutics by 25.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 649,333 shares of the biotechnology company’s stock worth $27,532,000 after buying an additional 132,089 shares during the last quarter. BCK Capital Management LP purchased a new stake in shares of Cerevel Therapeutics during the fourth quarter worth approximately $933,000. Amalgamated Bank lifted its holdings in shares of Cerevel Therapeutics by 8.8% during the fourth quarter. Amalgamated Bank now owns 10,027 shares of the biotechnology company’s stock worth $425,000 after purchasing an additional 809 shares during the period. Swiss National Bank grew its position in Cerevel Therapeutics by 1.3% in the 4th quarter. Swiss National Bank now owns 139,700 shares of the biotechnology company’s stock valued at $5,923,000 after buying an additional 1,800 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Cerevel Therapeutics in the 4th quarter valued at $492,000. Institutional investors and hedge funds own 87.73% of the company’s stock.

Analysts Set New Price Targets

Separately, Mizuho lifted their target price on shares of Cerevel Therapeutics from $25.00 to $45.00 and gave the company 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 company’s stock. Based on data from MarketBeat, Cerevel Therapeutics presently has a consensus rating of “Hold” and an average price target of $42.67.

Insider Buying and Selling at Cerevel Therapeutics

In other Cerevel Therapeutics news, Director N Anthony Coles sold 50,000 shares of Cerevel Therapeutics stock in a transaction dated Monday, March 4th. The shares were 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 owns 15,638 shares in the company, valued at $641,314.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.10% of the stock is owned by corporate insiders.

Cerevel Therapeutics Price Performance

Shares of NASDAQ:CERE traded down $0.20 during trading on Wednesday, hitting $42.06. 1,120,892 shares of the stock were exchanged, compared to its average volume of 1,429,548. The company has a fifty day moving average price of $42.04 and a two-hundred day moving average price of $38.14. The company has a market cap of $7.64 billion, a PE ratio of -16.88 and a beta of 1.46. Cerevel Therapeutics Holdings, Inc. has a 12-month low of $19.59 and a 12-month high of $43.59. The company has a current ratio of 10.92, a quick ratio of 10.92 and a debt-to-equity ratio of 0.50.

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.