ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock Holdings Lessened by GSA Capital Partners LLP

GSA Capital Partners LLP cut its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 62.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,096 shares of the biopharmaceutical company’s stock after selling 113,604 shares during the quarter. GSA Capital Partners LLP’s holdings in ACADIA Pharmaceuticals were worth $1,032,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ACAD. Park Place Capital Corp purchased a new position in ACADIA Pharmaceuticals in the 3rd quarter worth about $25,000. Values First Advisors Inc. acquired a new stake in shares of ACADIA Pharmaceuticals during the third quarter valued at approximately $27,000. Covestor Ltd lifted its position in shares of ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 840 shares in the last quarter. Headlands Technologies LLC acquired a new position in ACADIA Pharmaceuticals in the 1st quarter worth approximately $48,000. Finally, Stonepine Capital Management LLC purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter worth approximately $81,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Mark C. Schneyer sold 9,733 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $148,720.24. Following the completion of the sale, the chief financial officer now directly owns 43,735 shares of the company’s stock, valued at approximately $668,270.80. This represents a 18.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the transaction, the chief operating officer now directly owns 52,177 shares in the company, valued at $797,264.56. This trade represents a 15.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,014 shares of company stock valued at $779,494. 28.30% of the stock is owned by insiders.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $16.77 on Friday. The firm has a market cap of $2.79 billion, a P/E ratio of 21.50 and a beta of 0.38. The business has a 50 day moving average price of $15.56 and a 200 day moving average price of $16.01. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. ACADIA Pharmaceuticals’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.40) earnings per share. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on ACAD shares. Cantor Fitzgerald decreased their target price on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. UBS Group decreased their price objective on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Morgan Stanley cut shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $28.00 to $20.00 in a report on Wednesday, August 7th. Finally, Royal Bank of Canada dropped their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

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.