5 Oversold Healthcare Stocks to Buy

4. Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE)

14-day RSI as of August 4: 18.39

Number of Hedge Fund Holders: 17

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) is a biopharmaceutical company focused on developing new therapies to treat disorders of the central nervous system. Its pipeline includes five clinical-stage investigational therapies and several preclinical compounds with the potential to treat neuroscience diseases, including schizophrenia, Alzheimer’s disease psychosis, epilepsy, panic disorder, and Parkinson’s disease.

The lead program of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) is Emraclidine, an M4-selective positive allosteric modulator (PAM) in development for schizophrenia and Alzheimer’s disease psychosis. The FDA has granted a fast track designation for Emraclidine for the treatment of hallucinations and delusions associated with Alzheimer’s disease psychosis.

As of Q1 2023, Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) shares were held by 17 hedge funds with the total shares held by these hedge funds valued at $321 million. Joseph Edelman’s Perceptive Advisors was its largest hedge fund shareholder with ownership of 6.5 million shares valued at $159 million.