Chief Scientific Officer Renger John sold 25,000 shares of Cerevel Therapeutics Holdings Inc. [CERE]

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Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cerevel Therapeutics Holdings Inc. shares valued at $750,005 were sold by Renger John on Nov 01. At $30.00 per share, Renger John sold 25,000 shares. The insider’s holdings dropped to 2,704 shares worth approximately $78767.52 following the completion of this transaction.


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Also, Renger John sold 25,000 shares, netting a total of over 750,000 in proceeds. Following the sale of shares at $30.00 each, the insider now holds 2,704 shares.

Before that, PATRICK DEVAL L had sold 47,705 shares from its account. In a trade valued at $1,468,422, the Director traded Cerevel Therapeutics Holdings Inc. shares for $30.78 each. Upon closing the transaction, the insider’s holdings decreased to 47,705 shares, worth approximately $0.0.

As published in their initiating research note from Loop Capital on November 01, 2022, Cerevel Therapeutics Holdings Inc. [CERE] has been a Buy and the price target has been revised to $40. This represents a 27.18% premium over Wednesday’s closing price. Analysts at BofA Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in mid October. As of September 29, 2022, Cantor Fitzgerald has initiated its “an Overweight” rating for CERE. Earlier on September 26, 2022, Wells Fargo initiated its rating. Their recommendation was “an Overweight” for CERE stock.

Analyzing CERE Stock Performance

On Wednesday, Cerevel Therapeutics Holdings Inc. [NASDAQ: CERE] rose 0.10% to $29.13. The stock’s lowest price that day was $28.79, but it reached a high of $29.96 in the same session. During the last five days, there has been a surge of approximately 2.46%. Over the course of the year, Cerevel Therapeutics Holdings Inc. shares have dropped approximately -10.15%. Shares of the company reached a 52-week high of $41.46 on 08/10/22 and a 52-week low of $19.86 on 05/12/22. A 50-day SMA is recorded $27.83, while a 200-day SMA reached $29.09. Nevertheless, trading volume fell to 0.26 million shares from 0.38 million shares the previous day.

Support And Resistance Levels for Cerevel Therapeutics Holdings Inc. (CERE)

According to the 24-hour chart, there is a support level at 28.63, which, if violated, would cause prices to drop to 28.12. In the upper region, resistance lies at 29.80. The next price resistance is at 30.46. RSI (Relative Strength Index) is 54.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.40, which suggests the price will decrease in the coming days. Percent R is at 20.20%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Cerevel Therapeutics Holdings Inc. subject to short interest?

Stocks of Cerevel Therapeutics Holdings Inc. saw a sharp steep in short interest on Oct 13, 2022 dropping by -0.11 million shares to 5.47 million. Data from Yahoo Finance shows that the short interest on Sep 14, 2022 was 5.58 million shares. A decline of -2.01% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 9.05 of the overall float, the days-to-cover ratio (short ratio) decline to 9.05.

Which companies own the most shares of Cerevel Therapeutics Holdings Inc. (CERE)?

According to Fidelity Management & Research Co filings, the company currently owns 22,785,196 shares, which is about 14.63% of the total CERE shares outstanding. The investor’s shares have appreciated by 1,073,178 from its previous 13-F filing of 21712018.0 shares. With the completion of the buy transaction, Perceptive Advisors LLC’s stake is now worth $182,067,887. The Vanguard Group, Inc. acquire a 17.60% interest valued at $160.05 million while T. Rowe Price Associates, Inc. sold a -1,526,834 stake. A total of 200,000 shares of Cerevel Therapeutics Holdings Inc. were sold by Federated Global Investment Manag during the quarter, and 43,098 were bought by BlackRock Fund Advisors. In its current portfolio, SSgA Funds Management, Inc. holds 2,719,272 shares valued at $76.03 million.

In terms of Cerevel Therapeutics Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $40.44 in the next 12 months, up nearly 37.46% from the previous closing price of $29.10. Analysts anticipate Cerevel Therapeutics Holdings Inc. stock to reach $52.00 by 2022, with the lowest price target being $28.00. In spite of this, 10 analysts ranked Cerevel Therapeutics Holdings Inc. stock as a Buy at the end of 2022.

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