Fidelity Management & Research Co recently announced the acquisition of new stake in Cerevel Therapeutics Holdings Inc (NASDAQ:CERE). The institutional investor has increased its shareholding in the Healthcare company by 0.49% to 23.03 million shares with purchase of 0.11 million shares. This fresh investment now brings its stake to 12.77% valued currently at $597.05 million. In addition, Perceptive Advisors LLC raised its holdings by 0.88 million to 10.97 million shares. And The Vanguard Group, Inc. has lifted its position by 12.91% or 0.71 million shares – to 6.19 million shares.
Currently, there are 156.50M common shares owned by the public and among those 86.01M shares have been available to trade.
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Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 12,547,204 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 1,647,279 shares.
The top 3 mutual fund holders in Cerevel Therapeutics Holdings Inc are Fidelity Growth Company Fund, Vanguard Total Stock Market ETF, and Fidelity Growth Company K6 Fund. Fidelity Growth Company Fund owns 5.84 million shares of the company’s stock, all valued at over $151.44 million. The company bought an additional 59395.0 shares recently to bring their total holdings to about 3.24% of the shares outstanding. Vanguard Total Stock Market ETF bought 0.44 million shares to see its total holdings expand to 2.52 million shares valued at over $65.41 million and representing 1.40% of the shares outstanding. Fidelity Growth Company K6 Fund bought 3900.0 shares to bring its total holdings to over 2.2 million shares at a value of $56.99 million. Fidelity Growth Company K6 Fund now owns shares totaling to 1.22% of the shares outstanding.
However, the script later moved the day high at 41.79, up 0.12%. The company’s stock has a 5-day price change of 0.97% and 99.33% over the past three months. CERE shares are trading 31.45% year to date (YTD), with the 12-month market performance up to 63.55% higher. It has a 12-month low price of $19.59 and touched a high of $41.75 over the same period. CERE has an average intraday trading volume of 2.30 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 25.66%, 51.29%, and 52.23% respectively.
Institutional ownership of Cerevel Therapeutics Holdings Inc (NASDAQ: CERE) shares accounts for 44.92% of the company’s 156.50M shares outstanding. Mutual fund holders own 22.84%, while other institutional holders and individual stakeholders account for 91.72% and 22.08% respectively.
It has a market capitalization of $7.47B and a beta (3y monthly) value of 1.51. The earnings-per-share (ttm) stands at -$2.50. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.10% over the week and 4.52% over the month.
Analysts forecast that Cerevel Therapeutics Holdings Inc (CERE) will achieve an EPS of -$0.58 for the current quarter, -$0.59 for the next quarter and -$2.56 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.65 while analysts give the company a high EPS estimate of -$0.43. Comparatively, EPS for the current quarter was -$0.59 a year ago. Earnings per share for the fiscal year are expected to decrease by -6.19%, and -4.03% over the next financial year.
Looking at the support for the CERE, a number of firms have released research notes about the stock. TD Cowen stated their Market Perform rating for the stock in a research note on December 08, 2023, with the firm’s price target at $45.
