Lake Street Advisors Group LLC Has $10.36 Million Stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Lake Street Advisors Group LLC grew its stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 191.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,309 shares of the biotechnology company’s stock after purchasing an additional 160,452 shares during the period. Lake Street Advisors Group LLC owned about 0.14% of Cerevel Therapeutics worth $10,359,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Graham Capital Management L.P. lifted its holdings in Cerevel Therapeutics by 304.6% during the 3rd quarter. Graham Capital Management L.P. now owns 41,850 shares of the biotechnology company’s stock valued at $914,000 after purchasing an additional 31,506 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in Cerevel Therapeutics during the 3rd quarter valued at about $1,092,000. Versor Investments LP bought a new position in Cerevel Therapeutics during the 4th quarter valued at about $4,607,000. Calamos Advisors LLC bought a new position in shares of Cerevel Therapeutics in the fourth quarter worth about $12,945,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Cerevel Therapeutics by 25.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 649,333 shares of the biotechnology company’s stock worth $27,532,000 after acquiring an additional 132,089 shares during the last quarter. 87.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity at Cerevel Therapeutics

In other Cerevel Therapeutics news, Director N Anthony Coles sold 50,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $42.10, for a total transaction of $2,105,000.00. Following the sale, the director now directly owns 15,638 shares in the company, valued at $658,359.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.10% of the stock is currently owned by corporate insiders.

Cerevel Therapeutics Price Performance

Shares of CERE stock traded up $0.27 on Wednesday, hitting $40.92. The company’s stock had a trading volume of 658,463 shares, compared to its average volume of 1,369,322. The company has a current ratio of 10.22, a quick ratio of 10.22 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average is $41.96 and its 200-day moving average is $40.60. Cerevel Therapeutics Holdings, Inc. has a fifty-two week low of $19.59 and a fifty-two week high of $43.59.

Cerevel Therapeutics (NASDAQ:CERE) last released its quarterly 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). As a group, sell-side analysts forecast that Cerevel Therapeutics Holdings, Inc. will post -2.63 earnings per share for the current fiscal year.

Cerevel Therapeutics 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.