Trexquant Investment LP Sells 138,858 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Trexquant Investment LP reduced its holdings in ACADIA Pharmaceuticals by 32.1% in the first quarter, now owning 294,297 shares worth approximately $4.89 million.
• In contrast to Trexquant, other investors like Allspring Global Investments and Amalgamated Bank significantly increased their positions in ACADIA, with Allspring boosting its ownership by 645.7%.
• ACADIA Pharmaceuticals reported a quarterly earnings per share of $0.16, surpassing analyst estimates of $0.14, and its revenue increased by 9.4% compared to the same quarter last year.

Trexquant Investment LP lowered its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 32.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 294,297 shares of the biopharmaceutical company's stock after selling 138,858 shares during the quarter. Trexquant Investment LP owned approximately 0.18% of ACADIA Pharmaceuticals worth $4,888,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of ACADIA Pharmaceuticals by 645.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 310,332 shares of the biopharmaceutical company's stock worth $5,065,000 after purchasing an additional 268,714 shares in the last quarter. GAMMA Investing LLC increased its position in shares of ACADIA Pharmaceuticals by 627.3% during the 1st quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock worth $58,000 after purchasing an additional 3,030 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth about $247,000. Amalgamated Bank grew its holdings in ACADIA Pharmaceuticals by 757.7% during the 1st quarter. Amalgamated Bank now owns 35,002 shares of the biopharmaceutical company's stock worth $581,000 after acquiring an additional 30,921 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in ACADIA Pharmaceuticals by 28.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,086,840 shares of the biopharmaceutical company's stock valued at $19,932,000 after acquiring an additional 243,082 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Up 0.1%

NASDAQ ACAD traded up $0.03 during trading on Wednesday, reaching $25.72. 1,362,845 shares of the stock traded hands, compared to its average volume of 1,954,040. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 6.62 and a beta of 0.75. The stock's 50-day moving average price is $23.55 and its 200 day moving average price is $20.08. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The firm had revenue of $264.57 million during the quarter, compared to analysts' expectations of $263.07 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ACAD has been the subject of several research reports. Citigroup restated an "outperform" rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 7th. BMO Capital Markets raised their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Needham & Company LLC restated a "buy" rating and issued a $30.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Robert W. Baird raised their price objective on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Finally, Wall Street Zen upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $28.88.

Insider Activity at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 22,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $25.18, for a total value of $553,960.00. Following the completion of the transaction, the executive vice president owned 40,130 shares in the company, valued at $1,010,473.40. This represents a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elizabeth A. Garofalo sold 1,600 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total transaction of $41,568.00. Following the completion of the sale, the director directly owned 25,382 shares in the company, valued at approximately $659,424.36. This represents a 5.93% decrease in their position. The disclosure for this sale can be found here. 28.30% of the stock is owned by corporate insiders.

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.