Cerevel Therapeutics Holdings Inc (NASDAQ: CERE) stock fell -0.57% on Monday to $24.50 against a previous-day closing price of $24.64. With 0.82 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.87 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $25.08 whereas the lowest price it dropped to was $24.45. The 52-week range on CERE shows that it touched its highest point at $35.98 and its lowest point at $19.59 during that stretch. It currently has a 1-year price target of $34.30. Beta for the stock currently stands at 1.36.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CERE was up-trending over the past week, with a rise of 1.20%, but this was up by 7.69% over a month. Three-month performance surged to 10.76% while six-month performance fell -27.94%. The stock lost -13.70% in the past year, while it has lost -22.32% so far this year. A look at the trailing 12-month EPS for CERE yields -2.50 with Next year EPS estimates of -2.56. For the next quarter, that number is -0.58. This implies an EPS growth rate of -6.17% for this year and -4.05% for next year.
Float and Shares Shorts:
At present, 156.50 million CERE shares are outstanding with a float of 84.38 million shares on hand for trading. On Oct 30, 2023, short shares totaled 8.34 million, which was 4.62% higher than short shares on Sep 28, 2023. In addition to Dr. N. Anthony Coles Jr., M.P.H. as the firm’s Executive Chairman, Mr. Mark Bodenrader serves as its VP of Finance & Chief Accounting Officer.
Institutional Ownership:
Through their ownership of 88.78% of CERE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 93.30% of CERE, in contrast to 23.31% held by mutual funds. Shares owned by individuals account for 22.59%. As the largest shareholder in CERE with 12.99% of the stake, Fidelity Management & Research Co holds 23,025,271 shares worth 23,025,271. A second-largest stockholder of CERE, Perceptive Advisors LLC, holds 10,965,193 shares, controlling over 6.19% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CERE, holding 6,188,129 shares or 3.49% stake. With a 3.26% stake in CERE, the Fidelity Growth Company Fund is the largest stakeholder. A total of 5,781,121 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.42% of CERE stock, is the second-largest Mutual Fund holder. It holds 2,522,492 shares valued at 59.66 million. Fidelity Growth Company K6 Fund holds 1.24% of the stake in CERE, owning 2,193,761 shares worth 51.88 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CERE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CERE analysts setting a high price target of $42.00 and a low target of $25.00, the average target price over the next 12 months is $34.30. Based on these targets, CERE could surge 71.43% to reach the target high and rise by 2.04% to reach the target low. Reaching the average price target will result in a growth of 40.0% from current levels.
Summary of Insider Activity:
Insiders traded CERE stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 50,000 shares were bought while 50,000 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 18 over the past year. The total number of shares bought during that period was 583,444 while 1,084,522 shares were sold.
