Tudor Investment Corp ET AL Trims Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Tudor Investment Corp ET AL trimmed its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 23.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,680 shares of the biopharmaceutical company's stock after selling 21,724 shares during the quarter. Tudor Investment Corp ET AL's holdings in ACADIA Pharmaceuticals were worth $1,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in ACADIA Pharmaceuticals during the fourth quarter worth $47,000. KBC Group NV boosted its position in 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 period. Globeflex Capital L P bought a new position in ACADIA Pharmaceuticals during the fourth quarter worth $168,000. Xponance Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $186,000. Finally, Vinva Investment Management Ltd bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $187,000. 96.71% of the stock is owned by institutional investors.

Insider Transactions at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 2,708 shares of the stock in a transaction 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,994 shares of company stock valued at $313,131 in the last quarter. 26.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ACAD shares. StockNews.com raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. 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, April 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. UBS Group dropped their price target on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a "hold" rating and a $22.00 target price for the company. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.70.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock traded up $0.51 on Friday, hitting $17.44. The stock had a trading volume of 2,854,983 shares, compared to its average volume of 1,855,937. The stock has a 50 day moving average of $15.83 and a 200 day moving average of $16.98. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $20.68. The firm has a market capitalization of $2.92 billion, a P/E ratio of 22.36 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $239.32 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The firm's revenue was up 18.7% compared to the same quarter last year. Equities analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

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.