Cerevel Therapeutics (NASDAQ:CERE) Sees Strong Trading Volume

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) saw unusually-high trading volume on Thursday . Approximately 1,711,463 shares changed hands during trading, an increase of 10% from the previous session’s volume of 1,552,051 shares.The stock last traded at $44.50 and had previously closed at $43.37.

Cerevel Therapeutics Price Performance

The firm has a 50-day simple moving average of $41.30 and a 200-day simple moving average of $41.80. The firm has a market cap of $8.09 billion, a P/E ratio of -16.21 and a beta of 1.40. The company has a current ratio of 10.22, a quick ratio of 10.22 and a debt-to-equity ratio of 0.60.

Cerevel Therapeutics (NASDAQ:CERE) last issued its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.12). As a group, analysts forecast that Cerevel Therapeutics Holdings, Inc. will post -2.59 EPS for the current year.

Insider Transactions at Cerevel Therapeutics

In related news, Director N Anthony Coles sold 25,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $41.18, for a total transaction of $1,029,500.00. Following the completion of the sale, the director now owns 25,928 shares of the company’s stock, valued at $1,067,715.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in Cerevel Therapeutics in the first quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in Cerevel Therapeutics during the 4th quarter worth approximately $71,000. Centaurus Financial Inc. acquired a new position in Cerevel Therapeutics during the 4th quarter valued at approximately $119,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Cerevel Therapeutics in the second quarter worth $127,000. Finally, GAM Holding AG acquired a new stake in shares of Cerevel Therapeutics during the fourth quarter worth $212,000. 87.73% of the stock is owned by institutional investors and hedge funds.

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.