Wellington Management Group LLP Reduces Stake in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Wellington Management Group LLP cut its stake in shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) by 25.5% during the fourth quarter, HoldingsChannel reports. The firm owned 35,578 shares of the biotechnology company’s stock after selling 12,182 shares during the quarter. Wellington Management Group LLP’s holdings in Cerevel Therapeutics were worth $1,509,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Pacific Capital Wealth Advisors Inc. purchased a new stake in Cerevel Therapeutics during the 4th quarter valued at $71,000. Centaurus Financial Inc. bought a new stake in shares of Cerevel Therapeutics in the 4th quarter worth about $119,000. PNC Financial Services Group Inc. lifted its holdings in shares of Cerevel Therapeutics by 68.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,506 shares of the biotechnology company’s stock worth $208,000 after acquiring an additional 3,866 shares during the last quarter. GAM Holding AG purchased a new position in shares of Cerevel Therapeutics during the 4th quarter worth about $212,000. Finally, Virtu Financial LLC bought a new position in Cerevel Therapeutics during the 4th quarter valued at about $246,000. 87.73% of the stock is owned by institutional investors.

Cerevel Therapeutics Stock Up 1.1 %

Shares of NASDAQ CERE opened at $41.35 on Tuesday. Cerevel Therapeutics Holdings, Inc. has a 1 year low of $19.59 and a 1 year high of $43.59. The firm has a 50-day simple moving average of $41.51 and a two-hundred day simple moving average of $41.83. The company has a market cap of $7.53 billion, a P/E ratio of -15.15 and a beta of 1.40. 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 results 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). Research analysts anticipate that Cerevel Therapeutics Holdings, Inc. will post -2.59 earnings per share for the current year.

Insider Transactions at Cerevel Therapeutics

In related news, Director N Anthony Coles sold 50,000 shares of the firm’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 of the company’s stock, valued at approximately $658,359.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.10% of the company’s stock.

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.