32,910 Shares in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 32,910 shares of the biopharmaceutical company’s stock, valued at approximately $535,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Marshall Wace LLP increased its stake in ACADIA Pharmaceuticals by 431.1% in the 2nd quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company’s stock valued at $45,083,000 after buying an additional 2,251,940 shares during the last quarter. Eventide Asset Management LLC acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at $25,342,000. Dimensional Fund Advisors LP acquired a new stake in ACADIA Pharmaceuticals in the 2nd quarter valued at $10,550,000. Fred Alger Management LLC increased its stake in ACADIA Pharmaceuticals by 19.8% in the 2nd quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock valued at $43,947,000 after buying an additional 446,875 shares during the last quarter. Finally, M&G Plc acquired a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at $5,622,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $15.69 on Friday. The firm has a 50-day moving average of $16.57 and a 200-day moving average of $16.61. The company has a market cap of $2.59 billion, a P/E ratio of -1,569.00, a P/E/G ratio of 0.55 and a beta of 0.40. ACADIA Pharmaceuticals Inc. has a one year low of $14.55 and a one year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The firm had revenue of $241.96 million during the quarter, compared to analyst estimates of $235.95 million. During the same quarter last year, the business earned $0.01 earnings per share. The company’s quarterly revenue was up 46.4% on a year-over-year basis. As a group, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ACAD shares. Needham & Company LLC decreased their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. UBS Group decreased their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Citigroup decreased their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Morgan Stanley downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $25.56.

Insiders Place Their Bets

In related news, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the sale, the chief operating officer now owns 52,177 shares in the company, valued at $797,264.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the transaction, the chief operating officer now owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark C. Schneyer sold 9,733 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $148,720.24. Following the sale, the chief financial officer now directly owns 43,735 shares of the company’s stock, valued at approximately $668,270.80. 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 currently owned by corporate insiders.

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.