Y Intercept Hong Kong Ltd Sells 18,378 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Key Points

• Y Intercept Hong Kong Ltd reduced its stake in ACADIA Pharmaceuticals by 55.9%, selling 18,378 shares during the first quarter, leaving it with 14,527 shares worth approximately $241,000.
• In related insider transactions, James Kihara sold 4,000 shares at $22.50 and Mark C. Schneyer sold 2,000 shares at $25.00, resulting in significant decreases in their respective shareholdings.
• ACADIA Pharmaceuticals reported a $0.11 earnings per share for the last quarter, beating analysts' expectations, with revenue rising 18.7% compared to the same period last year.

Y Intercept Hong Kong Ltd lowered its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 55.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,527 shares of the biopharmaceutical company's stock after selling 18,378 shares during the period. Y Intercept Hong Kong Ltd's holdings in ACADIA Pharmaceuticals were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ACAD. Exchange Traded Concepts LLC bought a new stake in ACADIA Pharmaceuticals in the 1st quarter worth approximately $29,000. Virtus Fund Advisers LLC bought a new stake in ACADIA Pharmaceuticals in the 4th quarter worth approximately $39,000. GF Fund Management CO. LTD. bought a new stake in ACADIA Pharmaceuticals in the 4th quarter worth approximately $64,000. GAMMA Investing LLC grew 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 valued at $58,000 after acquiring an additional 3,030 shares during the period. Finally, CWM LLC grew its position in shares of ACADIA Pharmaceuticals by 50.1% during the 1st quarter. CWM LLC now owns 5,845 shares of the biopharmaceutical company's stock valued at $97,000 after acquiring an additional 1,951 shares during the period. Institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock traded up $0.44 during trading hours on Monday, reaching $23.97. The company's stock had a trading volume of 565,139 shares, compared to its average volume of 2,182,305. The firm has a 50 day moving average price of $22.18 and a 200-day moving average price of $19.06. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $25.23. The stock has a market cap of $4.01 billion, a P/E ratio of 17.50, a P/E/G ratio of 6.54 and a beta of 0.70.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $244.32 million for the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a net margin of 22.97% and a return on equity of 17.46%. The business's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. As a group, sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 2,000 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the transaction, the executive vice president directly owned 62,130 shares in the company, valued at $1,553,250. This represents a 3.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Laura Brege sold 14,446 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was 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 in the company, valued at $328,769.10. This represents a 48.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,446 shares of company stock worth $454,634. Insiders own 28.30% of the company's stock.

Wall Street Analysts Forecast Growth

ACAD has been the subject of a number of recent research reports. Mizuho boosted their price objective on shares of ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Wall Street Zen raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. UBS Group cut their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a research report on Monday, April 28th. HC Wainwright restated a "buy" rating and set a $32.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Finally, 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. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $28.13.

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.