Cerevel Therapeutics Sees Unusually Large Options Volume (NASDAQ:CERE)

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

Insider Activity at Cerevel Therapeutics

In related news, Director N Anthony Coles sold 25,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $41.18, for a total transaction of $1,029,500.00. Following the completion of the sale, the director now directly owns 25,928 shares of the company’s stock, valued at approximately $1,067,715.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cerevel Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its stake in Cerevel Therapeutics by 68.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,506 shares of the biotechnology company’s stock worth $208,000 after purchasing an additional 3,866 shares during the period. Trexquant Investment LP purchased a new position in Cerevel Therapeutics during the 3rd quarter valued at about $314,000. Alps Advisors Inc. increased its holdings in shares of Cerevel Therapeutics by 0.9% in the 3rd quarter. Alps Advisors Inc. now owns 116,263 shares of the biotechnology company’s stock valued at $2,538,000 after purchasing an additional 984 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in shares of Cerevel Therapeutics by 100.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,505,976 shares of the biotechnology company’s stock worth $32,875,000 after purchasing an additional 755,976 shares in the last quarter. Finally, Lake Street Advisors Group LLC acquired a new stake in shares of Cerevel Therapeutics during the third quarter worth approximately $1,831,000. 87.73% of the stock is owned by institutional investors and hedge funds.

Cerevel Therapeutics Price Performance

CERE opened at $40.30 on Friday. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of -14.76 and a beta of 1.40. The company’s 50-day moving average price is $41.43 and its 200 day moving average price is $41.81. Cerevel Therapeutics has a fifty-two week low of $19.59 and a fifty-two week 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.

Cerevel Therapeutics (NASDAQ:CERE) last issued its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.12). As a group, sell-side analysts expect that Cerevel Therapeutics will post -2.59 earnings per share for the current year.

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.