Traders Buy Large Volume of Call Options on Cerevel Therapeutics (NASDAQ:CERE)

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) was the recipient of some unusual options trading activity on Wednesday. Stock investors bought 7,125 call options on the stock. This is an increase of approximately 399% compared to the average daily volume of 1,428 call options.

Cerevel Therapeutics Stock Performance

Shares of Cerevel Therapeutics stock traded down $0.93 on Wednesday, hitting $40.30. The company had a trading volume of 4,680,648 shares, compared to its average volume of 1,555,319. Cerevel Therapeutics has a twelve month low of $19.59 and a twelve month high of $43.59. The company has a quick ratio of 10.22, a current ratio of 10.22 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average of $41.49 and a 200-day moving average of $41.83.

Cerevel Therapeutics (NASDAQ:CERE) last announced its earnings results 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). On average, equities research analysts anticipate that Cerevel Therapeutics will post -2.59 EPS for the current fiscal year.

Insider Buying and Selling at Cerevel Therapeutics

In other Cerevel Therapeutics news, Director N Anthony Coles sold 50,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was 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 directly owns 15,638 shares of the company’s stock, valued at $658,359.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Bain Capital Investors LLC boosted its position in Cerevel Therapeutics by 9.1% during the 4th quarter. Bain Capital Investors LLC now owns 65,679,781 shares of the biotechnology company’s stock worth $2,784,823,000 after acquiring an additional 5,480,052 shares during the last quarter. Perceptive Advisors LLC grew its position in Cerevel Therapeutics by 8.7% in the fourth quarter. Perceptive Advisors LLC now owns 10,965,193 shares of the biotechnology company’s stock valued at $464,924,000 after purchasing an additional 876,808 shares in the last quarter. Avoro Capital Advisors LLC increased its stake in Cerevel Therapeutics by 690.7% in the 4th quarter. Avoro Capital Advisors LLC now owns 7,555,555 shares of the biotechnology company’s stock valued at $320,356,000 after buying an additional 6,600,000 shares during the last quarter. Vanguard Group Inc. lifted its position in Cerevel Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 7,463,911 shares of the biotechnology company’s stock worth $315,500,000 after buying an additional 88,941 shares in the last quarter. Finally, Rock Springs Capital Management LP boosted its stake in shares of Cerevel Therapeutics by 0.6% during the 3rd quarter. Rock Springs Capital Management LP now owns 2,529,116 shares of the biotechnology company’s stock worth $55,211,000 after buying an additional 15,200 shares during the last quarter. 87.73% of the stock is currently owned by institutional investors.

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.