Emerald Mutual Fund Advisers Trust Sells 74,419 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Emerald Mutual Fund Advisers Trust lowered its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 500,391 shares of the biopharmaceutical company's stock after selling 74,419 shares during the period. Emerald Mutual Fund Advisers Trust owned 0.30% of ACADIA Pharmaceuticals worth $9,182,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. increased its holdings in ACADIA Pharmaceuticals by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company's stock worth $230,000 after buying an additional 795 shares during the last quarter. Arete Wealth Advisors LLC increased its holdings in ACADIA Pharmaceuticals by 15.9% in the fourth quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company's stock worth $251,000 after buying an additional 1,875 shares during the last quarter. KBC Group NV increased its holdings in ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after buying an additional 2,044 shares during the last quarter. R Squared Ltd acquired a new position in ACADIA Pharmaceuticals in the fourth quarter worth approximately $47,000. Finally, MetLife Investment Management LLC increased its holdings in ACADIA Pharmaceuticals by 3.8% in the fourth quarter. MetLife Investment Management LLC now owns 73,048 shares of the biopharmaceutical company's stock worth $1,340,000 after buying an additional 2,669 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ACAD shares. Morgan Stanley restated an "equal weight" rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. HC Wainwright reiterated a "buy" rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. UBS Group lowered their price target on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Monday. StockNews.com upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Finally, Guggenheim downgraded ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their price target for the company from $23.00 to $20.00 in a report on Friday, January 3rd. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $23.87.

Insider Buying and Selling

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the transaction, the director now directly owns 17,595 shares of the company's stock, valued at $320,756.85. This trade represents a 21.85 % 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 hyperlink. Also, EVP Mark C. Schneyer sold 2,708 shares of ACADIA Pharmaceuticals stock in a transaction 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 transaction, the executive vice president now directly owns 59,456 shares of the company's stock, valued at approximately $881,137.92. The trade was a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,169 shares of company stock valued at $242,686 over the last ninety days. 28.30% of the stock is owned by company insiders.

ACADIA Pharmaceuticals Trading Down 0.2 %

ACAD stock traded down $0.03 during midday trading on Thursday, hitting $14.57. The stock had a trading volume of 1,432,957 shares, compared to its average volume of 1,849,723. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 18.68 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $20.68. The stock has a 50-day simple moving average of $16.22 and a 200 day simple moving average of $16.91.

About ACADIA Pharmaceuticals

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.