Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE – Get Free Report) was the target of a significant 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. Based on an average trading volume of 1,610,000 shares, the short-interest ratio is presently 3.7 days. Currently, 6.8% of the company’s stock are short sold.
Insider Buying and Selling
In other Cerevel Therapeutics news, Director N Anthony Coles sold 25,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $41.18, for a total value of $1,029,500.00. Following the transaction, the director now owns 25,928 shares in the company, valued at $1,067,715.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.10% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in CERE. Principal Financial Group Inc. boosted its position in Cerevel Therapeutics by 1.6% during the fourth quarter. Principal Financial Group Inc. now owns 27,117 shares of the biotechnology company’s stock worth $1,150,000 after purchasing an additional 430 shares during the period. American International Group Inc. grew its stake in Cerevel Therapeutics by 1.6% in the 1st quarter. American International Group Inc. now owns 35,294 shares of the biotechnology company’s stock valued at $1,492,000 after buying an additional 546 shares during the last quarter. Headlands Technologies LLC bought a new position in Cerevel Therapeutics in the 1st quarter worth $26,000. Amalgamated Bank lifted its position in Cerevel Therapeutics by 8.8% during the 4th quarter. Amalgamated Bank now owns 10,027 shares of the biotechnology company’s stock worth $425,000 after acquiring an additional 809 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cerevel Therapeutics by 9.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,170 shares of the biotechnology company’s stock valued at $558,000 after acquiring an additional 1,091 shares during the period. 87.73% of the stock is owned by institutional investors.
Cerevel Therapeutics Stock Up 0.7 %
Cerevel Therapeutics (NASDAQ:CERE – Get Free Report) last posted its earnings results on Wednesday, May 8th. The biotechnology company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.12). On average, equities research analysts expect that Cerevel Therapeutics will post -2.59 earnings per share for the current year.
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.
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