Cerevel Therapeutics Holdings Inc.’s filing revealed that its insider Burgess Paul D. acquired Company’s shares for reported $0.5 million on Aug 04. In the deal valued at $22.93 per share,21,880 shares were bought. As a result of this transaction, Burgess Paul D. now holds 21,880 shares worth roughly $ 0.53 million.
Then, Renaud Ronald C JR bought 83,857 shares, generating $2,008,811 in total proceeds. Upon buying the shares at $23.96, the President & CEO now owns 83,857 shares.
Before that, COLES N ANTHONY sold 50,000 shares. Cerevel Therapeutics Holdings Inc. shares valued at $1,501,340 were divested by the Director at a price of $30.03 per share. As a result of the transaction, COLES N ANTHONY now holds 2,704 shares, worth roughly $65193.439999999995.
BofA Securities downgraded its Cerevel Therapeutics Holdings Inc. [CERE] rating to a Neutral from a a Buy in a research note published on Tuesday, August 03, 2023; the price target was decreased to $31 from $36. PT values the company’s stock at a premium of 22.23 to its Tuesday closing price.
Price Performance Review of CERE
On Tuesday, Cerevel Therapeutics Holdings Inc. [NASDAQ:CERE] saw its stock jump 1.90% to $24.11. On the same session, the stock had its day’s lowest price of $23.3288, but rose to a high of $24.46. Over the last five days, the stock has gained 4.83%. Cerevel Therapeutics Holdings Inc. shares have fallen nearly -23.56% since the year began. Nevertheless, the stocks have fallen -19.09% over the past one year. While a 52-week high of $35.98 was reached on 06/16/23, a 52-week low of $20.49 was recorded on 08/07/23. SMA at 50 days reached $26.79, while 200 days put it at $28.95. A total of 0.75 million shares were traded, compared to the trading of 0.43 million shares in the previous session.
Levels Of Support And Resistance For CERE Stock
The 24-hour chart illustrates a support level at 23.47, which if violated will result in even more drops to 22.84. On the upside, there is a resistance level at 24.60. A further resistance level may holdings at 25.10. The Relative Strength Index (RSI) on the 14-day chart is 49.76, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.17, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 9.33%. Stochastics %K at 87.23% indicates the stock is a selling.
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 Aug 14, 2023, dropping by -0.37 million shares to a total of 5.08 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 5.45 million shares. There was a decline of -7.28%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 11.37% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.07.
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 22,913,123 shares, or roughly 14.55% of the outstanding CERE shares. In other words, the investor’s shares have risen by 24,507 from its previous 13-F filing of 22888616.0. Additionally, Perceptive Advisors LLC increased 54.93% of its stake after which the total value it holdings stand at $308,603,697, while The Vanguard Group, Inc. reduced -8.01% of its stake to hold $167.66 million in the firm. Over the last quarter, T. Rowe Price Associates, Inc. purchased 421,486 shares of Cerevel Therapeutics Holdings Inc., while BlackRock Fund Advisors bought 312,331 shares. At present, SSgA Funds Management, Inc. is holding 2,768,277 shares valued at $84.68 million. Rock Springs Capital Management L owned 2,513,916 shares of the company at the time of its most recent 13F filing, worth $76.9 million.
According to FactSet, Cerevel Therapeutics Holdings Inc.’s share price will average $34.13 in the next year, based on opinions of analysts polled by the firm. This is up nearly 45.82 percent from its previous closing price of $23.66. Analysts expect Cerevel Therapeutics Holdings Inc. stock to reach the higher price of $42.00, while the lowest price estimate is $24.00. However, 10 analysts have rated CERE stock as an Overweight in their predictions for 2023.