Cerevel Therapeutics Holdings Inc.’s recently made public that its CEO and Chairperson COLES N ANTHONY unloaded Company’s shares for reported $1.66 million on Feb 07. In the deal valued at $33.13 per share,50,000 shares were sold. As a result of this transaction, COLES N ANTHONY now holds 2,704 shares worth roughly $ 69438.72.
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Then, COLES N ANTHONY sold 50,000 shares, generating $1,496,871 in total proceeds. Upon selling the shares at $29.94, the CEO and Chairperson now owns 2,704 shares.
Before that, COLES N ANTHONY sold 50,000 shares. Cerevel Therapeutics Holdings Inc. shares valued at $1,333,300 were divested by the CEO and Chairperson at a price of $26.67 per share. As a result of the transaction, COLES N ANTHONY now holds 2,704 shares, worth roughly $69438.72.
Wells Fargo downgraded its Cerevel Therapeutics Holdings Inc. [CERE] rating to an Equal weight from a an Overweight in a research note published on Monday, February 23, 2023; the price target was decreased to $30 from $38. PT values the company’s stock at a premium of 14.4 to its Monday closing price. A number of analysts have revised their coverage, including Loop Capital’s analysts, who began to cover the stock in early November with a ‘”a Buy”‘ rating. BofA Securities began covering CERE with “Buy” recommendation on October 20, 2022. Cantor Fitzgerald started covering the stock on September 29, 2022. It rated CERE as “an Overweight”.
Price Performance Review of CERE
On Monday, Cerevel Therapeutics Holdings Inc. [NASDAQ:CERE] saw its stock jump 1.20% to $25.68. On the same session, the stock had its day’s lowest price of $25.30, but rose to a high of $26.30. Over the last five days, the stock has lost -23.55%. Cerevel Therapeutics Holdings Inc. shares have fallen nearly -18.58% since the year began. Nevertheless, the stocks have risen 0.82% over the past one year. While a 52-week high of $41.46 was reached on 02/02/23, a 52-week low of $19.86 was recorded on 02/23/23. SMA at 50 days reached $31.48, while 200 days put it at $29.03. A total of 0.77 million shares were traded, compared to the trading of 0.85 million shares in the previous session.
Levels Of Support And Resistance For CERE Stock
The 24-hour chart illustrates a support level at 25.22, which if violated will result in even more drops to 24.76. On the upside, there is a resistance level at 26.22. A further resistance level may holdings at 26.76. The Relative Strength Index (RSI) on the 14-day chart is 28.77, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.94, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.81%. Stochastics %K at 8.27% indicates the stock is a buying.
How much short interest is there in Cerevel Therapeutics Holdings Inc.?
A steep rise in short interest was recorded in Cerevel Therapeutics Holdings Inc. stocks on Jan 30, 2023, growing by 0.76 million shares to a total of 5.7 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 4.94 million shares. There was a rise of 13.33%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.30% of the overall stock float, the days-to-cover ratio (short ratio) rose to 12.14.
Cerevel Therapeutics Holdings Inc. [CERE] – Who Are The Largest Shareholders?
In filings from Fidelity Management & Research Co, it is revealed that the company now owns 22,852,390 shares, or roughly 14.62% of the outstanding CERE shares. In other words, the investor’s shares have risen by 67,194 from its previous 13-F filing of 22785196.0.. Over the last quarter, T. Rowe Price Associates, Inc. purchased 35,520 shares of Cerevel Therapeutics Holdings Inc., while BlackRock Fund Advisors bought 331,668 shares. At present, SSgA Funds Management, Inc. is holding 3,424,220 shares valued at $116.94 million. Federated Global Investment Manag owned 2,867,451 shares of the company at the time of its most recent 13F filing, worth $97.92 million.
According to FactSet, Cerevel Therapeutics Holdings Inc.’s share price will average $38.80 in the next year, based on opinions of analysts polled by the firm. This is up nearly 53.66 percent from its previous closing price of $25.38. Analysts expect Cerevel Therapeutics Holdings Inc. stock to reach the higher price of $52.00, while the lowest price estimate is $28.00. However, 11 analysts have rated CERE stock as an Overweight in their predictions for 2023. The most recent change occurred on September 26, 2022 when Wells Fargo began covering the stock and recommended ‘”an Overweight”‘ rating along with a $38 price target.