Hudson Bay Capital Management LP Sells 119,700 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Hudson Bay Capital Management LP lessened its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 63.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,300 shares of the biopharmaceutical company’s stock after selling 119,700 shares during the period. Hudson Bay Capital Management LP’s holdings in ACADIA Pharmaceuticals were worth $1,500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ACAD. CIBC Bancorp USA Inc. acquired a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter valued at approximately $283,000. Danske Bank A S acquired a new position in ACADIA Pharmaceuticals during the 3rd quarter worth approximately $1,002,000. CANADA LIFE ASSURANCE Co lifted its stake in ACADIA Pharmaceuticals by 1.8% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 123,246 shares of the biopharmaceutical company’s stock valued at $2,628,000 after purchasing an additional 2,131 shares during the last quarter. Virtus Advisers LLC lifted its stake in ACADIA Pharmaceuticals by 1,283.1% in the 3rd quarter. Virtus Advisers LLC now owns 42,974 shares of the biopharmaceutical company’s stock valued at $917,000 after purchasing an additional 39,867 shares during the last quarter. Finally, Verition Fund Management LLC boosted its stake in shares of ACADIA Pharmaceuticals by 63.0% during the third quarter. Verition Fund Management LLC now owns 18,749 shares of the biopharmaceutical company’s stock valued at $400,000 after purchasing an additional 7,244 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 0.0%

ACADIA Pharmaceuticals stock opened at $20.72 on Monday. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $28.35. The company’s 50 day moving average price is $23.92 and its two-hundred day moving average price is $24.04. The stock has a market cap of $3.53 billion, a P/E ratio of 9.05, a P/E/G ratio of 20.62 and a beta of 0.66.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $1.48. The company had revenue of $298.00 million during the quarter, compared to analyst estimates of $292.54 million. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.ACADIA Pharmaceuticals’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. On average, equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on ACAD. Bank of America restated a “neutral” rating and set a $29.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, March 2nd. Piper Sandler set a $37.00 target price on ACADIA Pharmaceuticals in a research note on Tuesday, December 16th. Wall Street Zen lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Stifel Nicolaus dropped their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. Finally, HC Wainwright reissued a “buy” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.21.

ACADIA Pharmaceuticals Company 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.