Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE – Get Free Report) was the target of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 6,360,000 shares, a decrease of 12.9% from the May 31st total of 7,300,000 shares. Currently, 7.3% of the shares of the stock are sold short. Based on an average daily volume of 1,250,000 shares, the short-interest ratio is presently 5.1 days.
Insider Activity at Cerevel Therapeutics
In related news, Director N Anthony Coles sold 50,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 15,638 shares of the company’s stock, valued at approximately $658,359.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.10% of the stock is owned by insiders.
Hedge Funds Weigh In On Cerevel Therapeutics
Several large investors have recently modified their holdings of CERE. Headlands Technologies LLC acquired a new stake in shares of Cerevel Therapeutics during the first quarter worth $26,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Cerevel Therapeutics in the fourth quarter worth $71,000. Centaurus Financial Inc. acquired a new stake in Cerevel Therapeutics in the fourth quarter worth $119,000. GAM Holding AG acquired a new stake in Cerevel Therapeutics in the fourth quarter worth $212,000. Finally, Virtu Financial LLC acquired a new stake in Cerevel Therapeutics in the fourth quarter worth $246,000. Institutional investors own 87.73% of the company’s stock.
Cerevel Therapeutics Trading Up 1.1 %
Cerevel Therapeutics (NASDAQ:CERE – Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.12). On average, sell-side analysts anticipate that Cerevel Therapeutics will post -2.59 EPS for the current 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.
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