Walleye Capital LLC Has $3.27 Million Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Walleye Capital LLC lifted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 336.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 178,007 shares of the biopharmaceutical company's stock after purchasing an additional 137,201 shares during the quarter. Walleye Capital LLC owned about 0.11% of ACADIA Pharmaceuticals worth $3,266,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $47,000. KBC Group NV lifted its holdings in ACADIA Pharmaceuticals by 67.0% in the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock valued at $93,000 after acquiring an additional 2,044 shares during the last quarter. Globeflex Capital L P acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $168,000. Xponance Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $186,000. Finally, Vinva Investment Management Ltd acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $187,000. Institutional investors and hedge funds own 96.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ACAD shares. StockNews.com raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Guggenheim cut ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $23.00 to $20.00 in a research note on Friday, January 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 8th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $23.93.

Insiders Place Their Bets

In related news, EVP Mark C. Schneyer sold 2,708 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was 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 owns 59,456 shares in the company, valued at $881,137.92. This represents a 4.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the company's stock in a transaction that occurred 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 transaction, the director now owns 17,595 shares of the company's stock, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,169 shares of company stock valued at $242,686 over the last 90 days. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD traded up $0.25 during trading hours on Wednesday, reaching $14.60. The company's stock had a trading volume of 421,264 shares, compared to its average volume of 2,233,805. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 18.72 and a beta of 0.54. The business's 50-day moving average is $16.95 and its 200-day moving average is $16.93. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $20.68.

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.