After this morning's -1.0% drop to $35.02 per share, Cerevel Therapeutics might just keep moving past its target price of $36.33. With an average analyst rating of buy, and target prices from $22.0 to $46.0, the stock's next move is anyone's guess.
The stock has an above average percentage of its shares sold short at 11.4%, and a short ratio of 9.01. Since 17.56% of the company's shares are owned by insiders, we can infer that there is a degree of alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 88.8% of Cerevel Therapeutics's shares being owned by this investor type.
Institutions Invested in Cerevel Therapeutics
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-03-31 | Bain Capital Investors, LLC | 39% | 60,632,356 | $2,123,345,134 |
| 2023-03-31 | FMR, LLC | 15% | 23,467,258 | $821,823,385 |
| 2023-03-31 | Perceptive Advisors Llc | 4% | 6,511,727 | $228,040,682 |
| 2023-03-31 | Vanguard Group, Inc. (The) | 4% | 6,126,580 | $214,552,834 |
| 2023-03-31 | Price (T.Rowe) Associates Inc | 3% | 4,799,707 | $168,085,741 |
| 2023-03-31 | Blackrock Inc. | 3% | 4,484,941 | $157,062,635 |
| 2023-03-31 | State Street Corporation | 2% | 3,137,586 | $109,878,263 |
| 2023-03-31 | Rock Springs Capital Management, LP | 2% | 2,513,916 | $88,037,339 |
| 2023-03-31 | T. Rowe Price Investment Management, Inc. | 1% | 2,001,568 | $70,094,912 |
| 2023-03-31 | Federated Hermes, Inc. | 1% | 1,924,972 | $67,412,520 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Cerevel Therapeutics.
