Hudson Bay Capital Management LP Has $4.86 Million Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Hudson Bay Capital Management LP cut its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 29.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 265,000 shares of the biopharmaceutical company's stock after selling 110,000 shares during the period. Hudson Bay Capital Management LP owned approximately 0.16% of ACADIA Pharmaceuticals worth $4,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. increased its position in shares of ACADIA Pharmaceuticals by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company's stock valued at $230,000 after acquiring an additional 795 shares during the last quarter. Arete Wealth Advisors LLC increased its position in shares of ACADIA Pharmaceuticals by 15.9% in the fourth quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company's stock valued at $251,000 after acquiring an additional 1,875 shares during the last quarter. KBC Group NV increased its position in shares of ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock valued at $93,000 after acquiring an additional 2,044 shares during the last quarter. R Squared Ltd acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $47,000. Finally, MetLife Investment Management LLC increased its position in shares of ACADIA Pharmaceuticals by 3.8% in the fourth quarter. MetLife Investment Management LLC now owns 73,048 shares of the biopharmaceutical company's stock valued at $1,340,000 after acquiring an additional 2,669 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Trading Up 26.5%

Shares of NASDAQ:ACAD traded up $4.66 during trading on Friday, reaching $22.26. 17,783,924 shares of the stock were exchanged, compared to its average volume of 1,915,718. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $25.06. The firm has a market cap of $3.72 billion, a PE ratio of 28.54 and a beta of 0.47. The stock has a 50-day moving average price of $15.81 and a 200-day moving average price of $17.02.

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

Analyst Upgrades and Downgrades

ACAD has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 8th. Morgan Stanley reiterated an "equal weight" rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. StockNews.com cut ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a "hold" rating and a $22.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.70.

Insider Activity at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares in the company, valued at approximately $320,756.85. The trade was a 21.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark C. Schneyer sold 2,708 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total value of $40,132.56. Following the completion of the sale, the executive vice president now owns 59,456 shares of the company's stock, valued at approximately $881,137.92. This trade represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,994 shares of company stock worth $313,131. Company insiders own 26.50% of the company's stock.

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.