ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 5.3% during the fourth quarter, HoldingsChannel reports. The firm owned 409,750 shares of the biopharmaceutical company’s stock after selling 23,116 shares during the quarter. Bank of New York Mellon Corp’s holdings in ACADIA Pharmaceuticals were worth $7,519,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Handelsbanken Fonder AB increased its position in shares of ACADIA Pharmaceuticals by 15.1% in the 4th quarter. Handelsbanken Fonder AB now owns 54,833 shares of the biopharmaceutical company’s stock valued at $1,006,000 after purchasing an additional 7,200 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of ACADIA Pharmaceuticals by 14.0% in the 4th quarter. New York State Common Retirement Fund now owns 51,374 shares of the biopharmaceutical company’s stock valued at $943,000 after purchasing an additional 6,310 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of ACADIA Pharmaceuticals by 10.9% in the 4th quarter. Principal Financial Group Inc. now owns 143,694 shares of the biopharmaceutical company’s stock valued at $2,637,000 after purchasing an additional 14,143 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of ACADIA Pharmaceuticals by 10.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 35,281 shares of the biopharmaceutical company’s stock valued at $647,000 after purchasing an additional 3,378 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $47,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 6,167 shares of company stock worth $114,583. Company insiders own 28.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ACAD shares. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $17.50 on Friday. The stock has a market cap of $2.92 billion, a P/E ratio of 22.44 and a beta of 0.43. The firm has a fifty day moving average price of $18.40 and a 200 day moving average price of $16.98. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.15 and a 1-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.