Russell Investments Group Ltd. Sells 69,139 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Russell Investments Group Ltd. lowered its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 25.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,800 shares of the biopharmaceutical company's stock after selling 69,139 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of ACADIA Pharmaceuticals worth $3,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ACAD. SG Americas Securities LLC grew its stake in shares of ACADIA Pharmaceuticals by 380.3% in the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after acquiring an additional 1,966,607 shares during the last quarter. Barclays PLC increased its holdings in shares of ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock worth $4,269,000 after purchasing an additional 154,854 shares during the period. Burney Co. acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $6,953,000. Proficio Capital Partners LLC bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $272,000. Finally, Principal Financial Group Inc. grew its position in ACADIA Pharmaceuticals by 67.8% during the third quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company's stock worth $1,992,000 after buying an additional 52,340 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ACAD shares. Morgan Stanley reiterated an "equal weight" rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a "hold" rating and a $22.00 price target on the stock. HC Wainwright restated a "buy" rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.93.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD traded down $0.03 on Tuesday, hitting $14.35. 1,771,891 shares of the stock were exchanged, compared to its average volume of 1,852,045. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $20.68. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 18.40 and a beta of 0.54. The company's 50-day moving average price is $16.95 and its 200 day moving average price is $16.93.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 2,708 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total value of $40,132.56. Following the completion of the sale, the executive vice president now owns 59,456 shares of the company's stock, valued at approximately $881,137.92. This represents a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the transaction, the director now directly owns 17,595 shares in the company, valued at approximately $320,756.85. This represents a 21.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,169 shares of company stock worth $242,686 over the last ninety days. Company insiders own 28.30% of the company's stock.

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.