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TD Cowen gives a Market perform recommendation for Cerevel Therapeutics Holdings Inc (CERE)

In a filing, Cerevel Therapeutics Holdings Inc revealed its Director COLES N ANTHONY unloaded Company’s shares for reported $1.03 million on Jul 01 ’24. In the deal valued at $41.18 per share,25,000 shares were sold. As a result of this transaction, COLES N ANTHONY now holds 25,928 shares worth roughly $1.06 million.

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Then, COLES N ANTHONY sold 50,000 shares, generating $2,030,520 in total proceeds. Upon selling the shares at $40.61, the Director now owns 15,638 shares.

Before that, COLES N ANTHONY sold 50,000 shares. Cerevel Therapeutics Holdings Inc shares valued at $2,105,125 were divested by the Director at a price of $42.10 per share. As a result of the transaction, COLES N ANTHONY now holds 15,638 shares, worth roughly $0.64 million.

TD Cowen downgraded its Cerevel Therapeutics Holdings Inc [CERE] rating to a Market perform from a an Outperform in a research note published recently. Piper Sandler began covering CERE with “an Overweight” recommendation on September 28, 2023. BofA Securities revised its rating on August 03, 2023. It rated CERE as “a Neutral” which previously was an “a Buy”.

Price Performance Review of CERE

On Friday, Cerevel Therapeutics Holdings Inc [NASDAQ:CERE] saw its stock jump 1.64% to $40.96. Over the last five days, the stock has gained 1.14%. Cerevel Therapeutics Holdings Inc shares have fallen nearly -3.40% since the year began. Nevertheless, the stocks have risen 28.36% over the past one year. While a 52-week high of $43.59 was reached on 02/15/24, a 52-week low of $19.59 was recorded on 06/25/24. SMA at 50 days reached $41.45, while 200 days put it at $36.74. A total of 1.52 million shares were traded, compared to the trading of 4.68 million shares in the previous session.

Levels Of Support And Resistance For CERE Stock

The 24-hour chart illustrates a support level at 40.33, which if violated will result in even more drops to 39.71. On the upside, there is a resistance level at 41.30. A further resistance level may holdings at 41.65. The Relative Strength Index (RSI) on the 14-day chart is 49.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.12, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.71%. Stochastics%K at 57.71% indicates the stock is a holding.

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