RTW Investments LP Sells 5,002,005 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

RTW Investments LP cut its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 36.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,705,501 shares of the biopharmaceutical company's stock after selling 5,002,005 shares during the period. ACADIA Pharmaceuticals accounts for approximately 2.4% of RTW Investments LP's portfolio, making the stock its 16th largest position. RTW Investments LP owned 5.23% of ACADIA Pharmaceuticals worth $159,746,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC lifted its holdings in shares of ACADIA Pharmaceuticals by 126.2% during the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock valued at $4,269,000 after purchasing an additional 154,854 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 7.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 103,325 shares of the biopharmaceutical company's stock valued at $1,896,000 after purchasing an additional 7,491 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 380.3% during the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock valued at $45,576,000 after purchasing an additional 1,966,607 shares during the last quarter. KBC Group NV lifted its holdings in shares of ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock valued at $93,000 after purchasing an additional 2,044 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $47,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Down 1.2%

NASDAQ:ACAD traded down $0.27 on Monday, hitting $21.99. The stock had a trading volume of 4,053,965 shares, compared to its average volume of 1,928,461. The business's 50-day simple moving average is $16.01 and its two-hundred day simple moving average is $17.16. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 28.19 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The business's revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com lowered shares of ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Monday, May 12th. BMO Capital Markets boosted their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an "outperform" rating in a report on Monday. Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. UBS Group decreased their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, Robert W. Baird boosted their price objective on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $25.42.

Insider Activity

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the sale, the director now owns 17,595 shares in the company, valued at approximately $320,756.85. This trade represents a 21.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark C. Schneyer sold 3,171 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total transaction of $54,065.55. Following the transaction, the executive vice president now directly owns 56,889 shares in the company, valued at $969,957.45. This represents a 5.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,994 shares of company stock valued at $313,131 in the last quarter. 26.50% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.