Cubist Systematic Strategies LLC Has $8.69 Million Holdings in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Cubist Systematic Strategies LLC reduced its holdings in ACADIA Pharmaceuticals by 17.6%, owning 523,029 shares worth approximately $8.69 million after selling 111,491 shares in the first quarter.
• ACADIA Pharmaceuticals reported an earnings per share (EPS) of $0.16 for the last quarter, surpassing the consensus estimate of $0.14, with revenue of $264.57 million.
• Institutional investors currently hold 96.71% of ACADIA Pharmaceuticals' stock, indicating significant institutional interest and investment in the company.

Cubist Systematic Strategies LLC lessened its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 17.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 523,029 shares of the biopharmaceutical company's stock after selling 111,491 shares during the period. Cubist Systematic Strategies LLC owned about 0.31% of ACADIA Pharmaceuticals worth $8,688,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ACAD. Exchange Traded Concepts LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $29,000. Picton Mahoney Asset Management acquired a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $32,000. Federated Hermes Inc. boosted its position in shares of ACADIA Pharmaceuticals by 231.5% during the 1st quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company's stock worth $38,000 after acquiring an additional 1,618 shares in the last quarter. Virtus Fund Advisers LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $39,000. Finally, Quantbot Technologies LP acquired a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $52,000. Institutional investors and hedge funds own 96.71% of the company's stock.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, Director Laura Brege sold 14,446 shares of the firm's stock in a transaction on 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 transaction, the director owned 15,095 shares of the company's stock, valued at approximately $328,769.10. This trade represents a 48.90% decrease in their ownership of the stock. 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 22,000 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $25.18, for a total transaction of $553,960.00. Following the transaction, 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 position. The disclosure for this sale can be found here. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Stock Performance

ACAD stock opened at $25.99 on Tuesday. The company has a fifty day moving average price of $23.42 and a 200-day moving average price of $20.00. The company has a market capitalization of $4.38 billion, a P/E ratio of 19.54, a PEG ratio of 6.62 and a beta of 0.75. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm 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 company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 earnings per share. As a group, sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACAD has been the topic of several analyst reports. Bank of America increased their price target on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a "hold" rating in a research report on Thursday, June 5th. Mizuho increased their price target on shares of ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Royal Bank Of Canada increased their price target on shares of ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Oppenheimer reiterated a "market perform" rating and set a $22.00 price target (up previously from $19.00) on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Finally, Cantor Fitzgerald raised shares of ACADIA Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.

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