PNC Financial Services Group Inc. Sells 3,006 Shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

PNC Financial Services Group Inc. cut its stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 31.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,500 shares of the biotechnology company’s stock after selling 3,006 shares during the period. PNC Financial Services Group Inc.’s holdings in Cerevel Therapeutics were worth $276,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Cerevel Therapeutics during the fourth quarter valued at approximately $71,000. Centaurus Financial Inc. bought a new stake in shares of Cerevel Therapeutics during the 4th quarter valued at $119,000. GAM Holding AG purchased a new stake in shares of Cerevel Therapeutics in the 4th quarter worth about $212,000. Virtu Financial LLC bought a new position in shares of Cerevel Therapeutics in the 4th quarter worth about $246,000. Finally, FNY Investment Advisers LLC purchased a new position in Cerevel Therapeutics during the 4th quarter valued at about $339,000. 87.73% of the stock is owned by institutional investors.

Insider Activity

In related news, Director N Anthony Coles sold 50,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $42.10, for a total value of $2,105,000.00. Following the transaction, the director now owns 15,638 shares in the company, valued at approximately $658,359.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.10% of the company’s stock.

Cerevel Therapeutics Trading Up 1.0 %

NASDAQ:CERE opened at $40.89 on Monday. Cerevel Therapeutics Holdings, Inc. has a one year low of $19.59 and a one year high of $43.59. The company’s 50-day simple moving average is $41.52 and its 200 day simple moving average is $41.83. The firm has a market capitalization of $7.45 billion, a P/E ratio of -14.98 and a beta of 1.41. 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 posted 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 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.