Calamos Advisors LLC Makes New Investment in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Calamos Advisors LLC purchased a new position in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 305,303 shares of the biotechnology company’s stock, valued at approximately $12,945,000. Calamos Advisors LLC owned 0.17% of Cerevel Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Cerevel Therapeutics by 19.4% in the 3rd quarter. Royal Bank of Canada now owns 2,959 shares of the biotechnology company’s stock worth $83,000 after acquiring an additional 480 shares during the period. Centaurus Financial Inc. acquired a new position in shares of Cerevel Therapeutics in the 1st quarter valued at approximately $105,000. Tower Research Capital LLC TRC raised its position in shares of Cerevel Therapeutics by 59.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,262 shares of the biotechnology company’s stock valued at $135,000 after purchasing an additional 1,588 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Cerevel Therapeutics by 11.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,110 shares of the biotechnology company’s stock valued at $162,000 after purchasing an additional 526 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Cerevel Therapeutics in the 2nd quarter valued at approximately $179,000. Hedge funds and other institutional investors own 87.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CERE. Mizuho upped their target price on Cerevel Therapeutics from $25.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $45.00 target price (up from $40.00) on shares of Cerevel Therapeutics in a research report on Friday, December 22nd. Finally, JPMorgan Chase & Co. upped their target price on Cerevel Therapeutics from $25.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, December 28th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Cerevel Therapeutics currently has a consensus rating of “Hold” and an average price target of $41.40.

Cerevel Therapeutics Stock Performance

CERE stock opened at $42.21 on Friday. The company has a current ratio of 10.92, a quick ratio of 10.92 and a debt-to-equity ratio of 0.50. The firm has a market cap of $7.66 billion, a P/E ratio of -16.88 and a beta of 1.48. Cerevel Therapeutics Holdings, Inc. has a 12-month low of $19.59 and a 12-month high of $43.59. The stock’s 50 day simple moving average is $41.94 and its 200 day simple moving average is $36.24.

Insider Activity at Cerevel Therapeutics

In related news, Director N Anthony Coles sold 2,506 shares of the company’s 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 of the company’s stock, valued at approximately $649,602.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director N Anthony Coles sold 2,506 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 15,638 shares in the company, valued at approximately $649,602.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Renger sold 2,161 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $41.54, for a total value of $89,767.94. Following the transaction, the insider now owns 6,370 shares of the company’s stock, valued at $264,609.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,667 shares of company stock valued at $4,302,367. Corporate insiders own 5.10% of the company’s stock.

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.