ACADIA Pharmaceuticals Inc. $ACAD Stock Position Lessened by Avidity Partners Management LP

Avidity Partners Management LP decreased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 25.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 106,900 shares of the biopharmaceutical company’s stock after selling 37,100 shares during the quarter. ACADIA Pharmaceuticals accounts for approximately 0.8% of Avidity Partners Management LP’s holdings, making the stock its 27th largest position. Avidity Partners Management LP owned approximately 0.06% of ACADIA Pharmaceuticals worth $2,855,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 386 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 107.0% in 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. Transamerica Financial Advisors LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 304.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 1,005 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 277.5% in the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 1,185 shares during the period. Institutional investors own 96.71% of the company’s stock.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 3,506 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the completion of the sale, the executive vice president directly owned 66,145 shares of the company’s stock, valued at $1,441,299.55. This represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James Kihara sold 5,401 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the sale, the insider directly owned 24,509 shares of the company’s stock, valued at approximately $519,100.62. This represents a 18.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 13,978 shares of company stock valued at $302,819. 26.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ACAD. Stifel Nicolaus cut their price objective on ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, February 26th. Wolfe Research began coverage on ACADIA Pharmaceuticals in a report on Monday, February 23rd. They issued an “outperform” rating and a $33.00 price objective for the company. Citigroup cut their price objective on ACADIA Pharmaceuticals from $33.00 to $32.00 and set a “buy” rating for the company in a report on Friday, May 8th. Mizuho upgraded ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $29.00 to $35.00 in a report on Monday, February 23rd. Finally, Weiss Ratings lowered ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.63.

ACADIA Pharmaceuticals Stock Down 1.4%

Shares of ACADIA Pharmaceuticals stock opened at $21.09 on Friday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $19.69 and a fifty-two week high of $28.35. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 9.59, a price-to-earnings-growth ratio of 26.48 and a beta of 0.83. The business has a fifty day simple moving average of $21.76 and a 200-day simple moving average of $23.67.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The company had revenue of $268.10 million for the quarter, compared to analysts’ expectations of $280.25 million. During the same period in the prior year, the company earned $0.11 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.37 earnings per share for the current fiscal year.

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.