Maryland State Retirement & Pension System Invests $220,000 in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

Maryland State Retirement & Pension System bought a new position in Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,372 shares of the biotechnology company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in shares of Cerevel Therapeutics by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 27,117 shares of the biotechnology company’s stock worth $1,150,000 after buying an additional 430 shares during the last quarter. American International Group Inc. lifted its stake in Cerevel Therapeutics by 1.6% in the first quarter. American International Group Inc. now owns 35,294 shares of the biotechnology company’s stock valued at $1,492,000 after purchasing an additional 546 shares during the last quarter. Headlands Technologies LLC purchased a new position in Cerevel Therapeutics in the first quarter valued at approximately $26,000. Amalgamated Bank lifted its stake in Cerevel Therapeutics by 8.8% in the fourth quarter. Amalgamated Bank now owns 10,027 shares of the biotechnology company’s stock valued at $425,000 after purchasing an additional 809 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Cerevel Therapeutics by 5.1% in the fourth quarter. New York State Common Retirement Fund now owns 28,535 shares of the biotechnology company’s stock valued at $1,210,000 after purchasing an additional 1,383 shares during the last quarter. Hedge funds and other institutional investors own 87.73% of the company’s stock.

Cerevel Therapeutics Price Performance

Cerevel Therapeutics stock opened at $44.96 on Thursday. Cerevel Therapeutics Holdings, Inc. has a 12 month low of $19.59 and a 12 month high of $44.99. The company has a current ratio of 10.22, a quick ratio of 10.22 and a debt-to-equity ratio of 0.60. The business’s 50 day simple moving average is $43.58 and its 200 day simple moving average is $42.35. The company has a market cap of $8.19 billion, a price-to-earnings ratio of -16.47 and a beta of 1.40.

Insider Activity at Cerevel Therapeutics

In related news, Director N Anthony Coles sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.18, for a total value of $1,029,500.00. Following the transaction, the director now owns 25,928 shares in the company, valued at $1,067,715.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.10% of the stock is owned by company insiders.

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.