Gamco Investors INC. ET AL Buys 6,555 Shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Gamco Investors INC. ET AL raised its stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 10.5% in the 1st quarter, HoldingsChannel reports. The firm owned 68,837 shares of the biotechnology company’s stock after acquiring an additional 6,555 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Cerevel Therapeutics were worth $2,910,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bain Capital Investors LLC grew its holdings in shares of Cerevel Therapeutics by 9.1% during the fourth quarter. Bain Capital Investors LLC now owns 65,679,781 shares of the biotechnology company’s stock valued at $2,784,823,000 after buying an additional 5,480,052 shares during the last quarter. Perceptive Advisors LLC grew its holdings in shares of Cerevel Therapeutics by 8.7% during the fourth quarter. Perceptive Advisors LLC now owns 10,965,193 shares of the biotechnology company’s stock valued at $464,924,000 after buying an additional 876,808 shares during the last quarter. Avoro Capital Advisors LLC grew its holdings in shares of Cerevel Therapeutics by 690.7% during the fourth quarter. Avoro Capital Advisors LLC now owns 7,555,555 shares of the biotechnology company’s stock valued at $320,356,000 after buying an additional 6,600,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Cerevel Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 7,463,911 shares of the biotechnology company’s stock valued at $315,500,000 after buying an additional 88,941 shares during the last quarter. Finally, Alpine Associates Management Inc. acquired a new position in shares of Cerevel Therapeutics during the fourth quarter valued at about $69,710,000. 87.73% of the stock is owned by institutional investors.

Insider Activity

In related news, Director N Anthony Coles sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 25,928 shares in the company, valued at $1,067,715.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.10% of the company’s stock.

Cerevel Therapeutics Stock Up 0.5 %

Shares of NASDAQ CERE traded up $0.22 during mid-day trading on Friday, reaching $44.62. 2,051,639 shares of the company’s stock traded hands, compared to its average volume of 2,515,004. The stock has a market cap of $8.13 billion, a P/E ratio of -16.34 and a beta of 1.40. The business has a 50-day simple moving average of $41.39 and a 200 day simple moving average of $41.84. Cerevel Therapeutics Holdings, Inc. has a 1-year low of $19.59 and a 1-year high of $44.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 10.22 and a quick ratio of 10.22.

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

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.