Voloridge Investment Management LLC Trims Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Voloridge Investment Management LLC reduced its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 44.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 725,508 shares of the biopharmaceutical company's stock after selling 583,485 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.44% of ACADIA Pharmaceuticals worth $13,313,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of ACADIA Pharmaceuticals by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company's stock worth $255,939,000 after purchasing an additional 104,444 shares during the last quarter. First Trust Advisors LP increased its position in ACADIA Pharmaceuticals by 27.0% during the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock worth $49,547,000 after buying an additional 574,251 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $40,935,000. Norges Bank purchased a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $25,555,000. Finally, Two Sigma Advisers LP boosted its stake in shares of ACADIA Pharmaceuticals by 160.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company's stock valued at $23,180,000 after acquiring an additional 778,900 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Down 0.8%

Shares of NASDAQ ACAD traded down $0.17 during midday trading on Wednesday, hitting $22.02. The stock had a trading volume of 1,420,371 shares, compared to its average volume of 1,932,033. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $25.23. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 28.23 and a beta of 0.47. The company has a fifty day moving average price of $16.57 and a 200 day moving average price of $17.39.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $244.32 million for the quarter, compared to analysts' expectations of $239.32 million. During the same period in the previous year, the company posted $0.10 earnings per share. ACADIA Pharmaceuticals's revenue was up 18.7% compared to the same quarter last year. On average, research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Analyst Ratings Changes

ACAD has been the subject of several analyst reports. Morgan Stanley set a $24.00 target price on shares of ACADIA Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Oppenheimer restated a "market perform" rating on shares of ACADIA Pharmaceuticals in a research report on Friday, May 16th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Wall Street Zen upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Finally, BMO Capital Markets upped their target price on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $26.83.

Insider Activity at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,000 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $22.50, for a total transaction of $90,000.00. Following the sale, the insider now owns 20,395 shares in the company, valued at $458,887.50. This trade represents a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 2,000 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $25.00, for a total transaction of $50,000.00. Following the completion of the transaction, the executive vice president now owns 62,130 shares of the company's stock, valued at $1,553,250. This trade represents a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,746 shares of company stock worth $428,221. 28.30% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals 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.