Price T Rowe Associates Inc. MD Sells 38,954 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Price T Rowe Associates Inc. MD cut its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 621,010 shares of the biopharmaceutical company's stock after selling 38,954 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.37% of ACADIA Pharmaceuticals worth $11,396,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock valued at $4,269,000 after purchasing an additional 154,854 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of ACADIA Pharmaceuticals by 67.8% during the third quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company's stock worth $1,992,000 after buying an additional 52,340 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of ACADIA Pharmaceuticals by 1.3% during the fourth quarter. Nordea Investment Management AB now owns 264,031 shares of the biopharmaceutical company's stock worth $4,952,000 after buying an additional 3,516 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of ACADIA Pharmaceuticals by 9.8% during the 4th quarter. Diversified Trust Co now owns 35,774 shares of the biopharmaceutical company's stock valued at $656,000 after acquiring an additional 3,187 shares in the last quarter. Finally, Burney Co. bought a new stake in ACADIA Pharmaceuticals during the 4th quarter worth $6,953,000. Institutional investors and hedge funds own 96.71% of the company's stock.

Insider Activity at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the transaction, the director now owns 17,595 shares in the company, valued at approximately $320,756.85. This represents a 21.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 3,498 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $14.60, for a total transaction of $51,070.80. Following the completion of the sale, the executive vice president now directly owns 62,773 shares in the company, valued at approximately $916,485.80. This trade represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,994 shares of company stock valued at $313,131 over the last 90 days. Insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Stock Up 1.5 %

ACAD stock traded up $0.23 during mid-day trading on Monday, reaching $15.14. 1,393,316 shares of the company traded hands, compared to its average volume of 1,851,267. The firm's 50 day moving average price is $16.06 and its 200 day moving average price is $16.94. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 19.41 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $20.68.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ACAD shares. UBS Group reduced their price target on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, April 28th. HC Wainwright reissued a "buy" rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 8th. Morgan Stanley reiterated an "equal weight" rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Finally, StockNews.com upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $23.87.

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.