Invesco Ltd. trimmed its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 512,320 shares of the biopharmaceutical company's stock after selling 45,744 shares during the quarter. Invesco Ltd. owned about 0.31% of ACADIA Pharmaceuticals worth $9,401,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. R Squared Ltd bought a new stake in ACADIA Pharmaceuticals in the fourth quarter worth $47,000. KBC Group NV lifted its position in shares of ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after purchasing an additional 2,044 shares during the last quarter. Globeflex Capital L P bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $168,000. Xponance Inc. bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $186,000. Finally, Vinva Investment Management Ltd bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $187,000. 96.71% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the sale, the director now directly owns 17,595 shares of the company's stock, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $40,132.56. Following the completion of the sale, the executive vice president now directly owns 59,456 shares in the company, valued at $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 three months, insiders have sold 14,169 shares of company stock worth $242,686. 28.30% of the stock is owned by insiders.
ACADIA Pharmaceuticals Price Performance
ACAD traded down $0.09 on Tuesday, reaching $14.57. 221,406 shares of the company's stock were exchanged, compared to its average volume of 1,843,100. The stock has a market cap of $2.43 billion, a PE ratio of 18.68 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $20.68. The stock's fifty day moving average price is $16.54 and its 200-day moving average price is $16.95.
Wall Street Analyst Weigh In
ACAD has been the subject of several research analyst reports. HC Wainwright reiterated a "buy" rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price target for the company. Guggenheim lowered ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their target price for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 8th. Finally, StockNews.com raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.87.
Check Out Our Latest Report on ACADIA Pharmaceuticals
About ACADIA Pharmaceuticals
(
Free Report)
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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