Schroder Investment Management Group Decreases Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Schroder Investment Management Group cut its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 49.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 268,034 shares of the biopharmaceutical company's stock after selling 264,938 shares during the quarter. Schroder Investment Management Group owned approximately 0.16% of ACADIA Pharmaceuticals worth $4,473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter worth $47,000. KBC Group NV lifted its holdings in ACADIA Pharmaceuticals by 67.0% during the 4th 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 bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $168,000. Xponance Inc. bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $186,000. Finally, Vinva Investment Management Ltd bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $187,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 2,708 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was 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 in the company, valued at $881,137.92. The trade was a 4.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 completion of the sale, the director now owns 17,595 shares of the company's stock, valued at $320,756.85. The trade was a 21.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,169 shares of company stock worth $242,686. Company insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Stock Down 6.1 %

ACADIA Pharmaceuticals stock traded down $0.92 during midday trading on Thursday, reaching $14.04. The stock had a trading volume of 288,428 shares, compared to its average volume of 1,843,455. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $20.68. The firm's 50-day moving average price is $17.74 and its 200 day moving average price is $16.98. The firm has a market capitalization of $2.34 billion, a PE ratio of 18.01 and a beta of 0.54.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Guggenheim cut shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Cantor Fitzgerald restated an "overweight" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a "hold" rating and a $22.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, ACADIA Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $23.93.

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.