Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE Get Rating) by 30.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,134 shares of the biotechnology companys stock after acquiring an additional 1,657 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbanks holdings in Cerevel Therapeutics were worth $250,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CERE. Candriam Luxembourg S.C.A. bought a new stake in Cerevel Therapeutics during the 4th quarter valued at $3,424,000. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Cerevel Therapeutics by 24.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 310,000 shares of the biotechnology companys stock valued at $10,050,000 after purchasing an additional 60,000 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Cerevel Therapeutics by 105.8% during the 4th quarter. First Trust Advisors LP now owns 107,026 shares of the biotechnology companys stock valued at $3,470,000 after purchasing an additional 55,029 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Cerevel Therapeutics by 65.1% during the 4th quarter. Rafferty Asset Management LLC now owns 135,197 shares of the biotechnology companys stock valued at $4,383,000 after purchasing an additional 53,303 shares during the last quarter. Finally, Woodline Partners LP lifted its holdings in shares of Cerevel Therapeutics by 21.5% during the 4th quarter. Woodline Partners LP now owns 237,326 shares of the biotechnology companys stock valued at $7,694,000 after purchasing an additional 41,995 shares during the last quarter.

Several brokerages have recently commented on CERE. The Goldman Sachs Group decreased their price objective on Cerevel Therapeutics from $28.00 to $20.00 and set a neutral rating for the company in a report on Tuesday, May 24th. Mizuho assumed coverage on Cerevel Therapeutics in a research note on Wednesday, July 6th. They issued a neutral rating and a $30.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Cerevel Therapeutics currently has an average rating of Moderate Buy and a consensus price target of $39.43.

Shares of CERE stock opened at $26.97 on Friday. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of -15.77 and a beta of 2.44. The business has a fifty day moving average of $26.18 and a 200 day moving average of $28.77. Cerevel Therapeutics Holdings, Inc. has a 1 year low of $19.86 and a 1 year high of $46.16.

Cerevel Therapeutics (NASDAQ:CERE Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The biotechnology company reported ($0.46) earnings per share for the quarter, missing analysts consensus estimates of ($0.44) by ($0.02). During the same quarter last year, the firm posted ($0.40) earnings per share. As a group, equities research analysts expect that Cerevel Therapeutics Holdings, Inc. will post -1.94 earnings per share for the current year.

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Cerevel Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, engages in the development of various therapies for neuroscience diseases. 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 in epilepsy or focal epilepsy, as well as in phase 1 trial to treat acute anxiety.

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Zurcher Kantonalbank Zurich Cantonalbank Buys 1657 Shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) - Defense World