Man Group plc Cuts Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Man Group plc lessened its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,221,022 shares of the biopharmaceutical company's stock after selling 54,411 shares during the period. Man Group plc owned about 0.73% of ACADIA Pharmaceuticals worth $22,406,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ACAD. R Squared Ltd acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $47,000. KBC Group NV increased its holdings 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 purchasing an additional 2,044 shares during the last quarter. Globeflex Capital L P purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth approximately $168,000. Xponance Inc. acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth $186,000. Finally, Vinva Investment Management Ltd purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at $187,000. Institutional investors and hedge funds own 96.71% of the company's stock.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 4,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.50, for a total value of $90,000.00. Following the sale, the insider now owns 20,395 shares of the company's stock, valued at approximately $458,887.50. This represents a 16.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 2,000 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $25.00, for a total value of $50,000.00. Following the transaction, the executive vice president now directly owns 62,130 shares in the company, valued at approximately $1,553,250. This represents a 3.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,994 shares of company stock valued at $453,131. 26.50% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD traded down $0.30 during midday trading on Tuesday, reaching $21.69. 2,923,638 shares of the stock were exchanged, compared to its average volume of 1,933,404. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 27.81 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $25.23. The business's 50-day moving average price is $16.01 and its 200 day moving average price is $17.16.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings data 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 return on equity of 25.83% and a net margin of 13.83%. The company had revenue of $244.32 million for the quarter, compared to analyst estimates of $239.32 million. During the same quarter in the previous year, the company earned $0.10 EPS. The firm's revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. 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 on the stock. StockNews.com lowered ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Monday, May 12th. Oppenheimer reiterated a "market perform" rating on shares of ACADIA Pharmaceuticals in a report on Friday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, Robert W. Baird increased their price objective on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $25.75.

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.