Citigroup Inc. Sells 92,770 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Citigroup Inc. lowered its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 5.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,574,070 shares of the biopharmaceutical company’s stock after selling 92,770 shares during the period. Citigroup Inc.’s holdings in ACADIA Pharmaceuticals were worth $33,591,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its holdings in ACADIA Pharmaceuticals by 113.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 756 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 107.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 885 shares during the period. USA Financial Formulas bought a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at approximately $41,000. GAMMA Investing LLC grew its stake in shares of ACADIA Pharmaceuticals by 25.8% during the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 690 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 11.2% in the third quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 534 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $24.59 on Wednesday. The firm has a 50-day simple moving average of $25.66 and a 200-day simple moving average of $24.44. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $28.35. The firm has a market cap of $4.16 billion, a P/E ratio of 15.86, a P/E/G ratio of 8.68 and a beta of 0.66.

Wall Street Analysts Forecast Growth

ACAD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research note on Monday, December 29th. Oppenheimer restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Friday, February 6th. Wall Street Zen downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, UBS Group boosted their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.35.

Insiders Place Their Bets

In other news, EVP Jennifer J. Rhodes sold 6,950 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $23.38, for a total value of $162,491.00. Following the completion of the sale, the executive vice president owned 7,609 shares of the company’s stock, valued at $177,898.42. This trade represents a 47.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.