5 Worst Performing Biotech Stocks in 2023

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In this article, we discuss 5 worst performing biotech stocks in 2023. If you want to read our detailed discussion about the biotech industry, head over to 15 Worst Performing Biotech Stocks in 2023.

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

YTD Share Price Decline as of August 7: 32.47%

Number of Hedge Fund Holders: 17

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) develops treatments for neurological diseases such as schizophrenia. Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) classifies as one of the worst performing biotech stocks in 2023, given its share price performance year-to-date. On August 3, Bank of America downgraded Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) from Buy to Neutral, trimming its price target to $31 per share. 

According to Insider Monkey’s first quarter database, 17 hedge funds were bullish on Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE), as opposed to 16 funds in the previous quarter. Joseph Edelman’s Perceptive Advisors held the largest stake in the company, with 6.5 million shares valued at $158.8 million. 

Follow Cerevel Therapeutics Holdings Inc. (NASDAQ:CERE)

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