Capital Fund Management S.A. Sells 385,156 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Capital Fund Management S.A. reduced its stake in ACADIA Pharmaceuticals by 58.3%, selling 385,156 shares during the first quarter and now owns 275,474 shares.
• ACADIA Pharmaceuticals has seen various hedge funds modifying their positions, with noteworthy purchases from firms like Exchange Traded Concepts LLC and Picton Mahoney Asset Management.
• Analyst ratings for ACADIA Pharmaceuticals show a consensus rating of "Moderate Buy" with a target price of $28.88.

Capital Fund Management S.A. decreased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 58.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 275,474 shares of the biopharmaceutical company's stock after selling 385,156 shares during the quarter. Capital Fund Management S.A. owned approximately 0.16% of ACADIA Pharmaceuticals worth $4,576,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Quantbot Technologies LP bought a new stake in shares of ACADIA Pharmaceuticals in the first quarter worth $52,000. Northern Trust Corp grew its stake in shares of ACADIA Pharmaceuticals by 11.6% in the first quarter. Northern Trust Corp now owns 1,375,213 shares of the biopharmaceutical company's stock worth $22,842,000 after purchasing an additional 142,847 shares during the last quarter. American Century Companies Inc. grew its stake in shares of ACADIA Pharmaceuticals by 1,055.8% in the first quarter. American Century Companies Inc. now owns 1,632,749 shares of the biopharmaceutical company's stock worth $27,120,000 after purchasing an additional 1,491,484 shares during the last quarter. Fox Run Management L.L.C. grew its stake in shares of ACADIA Pharmaceuticals by 25.6% in the first quarter. Fox Run Management L.L.C. now owns 31,938 shares of the biopharmaceutical company's stock worth $530,000 after purchasing an additional 6,516 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its stake in shares of ACADIA Pharmaceuticals by 76.1% in the first quarter. E Fund Management Co. Ltd. now owns 18,718 shares of the biopharmaceutical company's stock worth $311,000 after purchasing an additional 8,090 shares during the last quarter. Institutional investors own 96.71% of the company's stock.

Insider Activity

In other news, Director Laura Brege sold 14,446 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total transaction of $314,633.88. Following the completion of the sale, the director directly owned 15,095 shares of the company's stock, valued at $328,769.10. The trade was a 48.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark C. Schneyer sold 22,000 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $25.18, for a total transaction of $553,960.00. Following the completion of the sale, the executive vice president directly owned 40,130 shares of the company's stock, valued at $1,010,473.40. The trade was a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 26.50% of the company's stock.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD traded down $0.17 during midday trading on Friday, hitting $26.06. 317,262 shares of the company's stock were exchanged, compared to its average volume of 2,167,069. The stock has a 50 day moving average price of $23.28 and a 200-day moving average price of $19.90. The company has a market cap of $4.40 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 6.76 and a beta of 0.70. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $264.57 million during the quarter, compared to the consensus estimate of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. On average, 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 topic of several analyst reports. Cantor Fitzgerald raised shares of ACADIA Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Citigroup restated an "outperform" rating on shares of ACADIA Pharmaceuticals in a report on Thursday, August 7th. Bank of America boosted their target price on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the company a "hold" rating in a report on Thursday, June 5th. Morgan Stanley set a $24.00 target price on shares of ACADIA Pharmaceuticals and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Finally, HC Wainwright restated a "buy" rating and issued a $32.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $28.88.

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.