Aviva PLC Invests $658,000 in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Aviva PLC bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 35,883 shares of the biopharmaceutical company's stock, valued at approximately $658,000.

Several other large investors also recently made changes to their positions in the stock. Wells Fargo & Company MN raised its stake in ACADIA Pharmaceuticals by 7.7% in the fourth quarter. Wells Fargo & Company MN now owns 202,349 shares of the biopharmaceutical company's stock valued at $3,713,000 after buying an additional 14,447 shares during the period. Uniting Wealth Partners LLC bought a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $202,000. ExodusPoint Capital Management LP boosted its position in shares of ACADIA Pharmaceuticals by 20.2% during the 4th quarter. ExodusPoint Capital Management LP now owns 70,786 shares of the biopharmaceutical company's stock worth $1,299,000 after acquiring an additional 11,885 shares in the last quarter. Arete Wealth Advisors LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 15.9% in the 4th quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company's stock valued at $251,000 after purchasing an additional 1,875 shares in the last quarter. Finally, Trexquant Investment LP grew its position in ACADIA Pharmaceuticals by 12.8% in the fourth quarter. Trexquant Investment LP now owns 433,155 shares of the biopharmaceutical company's stock valued at $7,948,000 after acquiring an additional 49,166 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

Analysts Set New Price Targets

ACAD has been the subject of a number of research reports. Morgan Stanley reiterated an "equal weight" rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 8th. 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 price target on the stock. Finally, Guggenheim lowered shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $23.00 to $20.00 in a research note on Friday, January 3rd. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $23.93.

Insider Activity at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 2,708 shares of the company's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total transaction of $40,132.56. Following the transaction, the executive vice president now directly owns 59,456 shares in the company, valued at approximately $881,137.92. This represents a 4.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the 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 completion of the sale, the director now owns 17,595 shares in the company, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,169 shares of company stock valued at $242,686. Corporate insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Stock Up 0.1 %

ACAD stock traded up $0.02 during trading on Tuesday, reaching $14.88. The company's stock had a trading volume of 245,357 shares, compared to its average volume of 1,847,631. The company's fifty day moving average is $17.48 and its 200-day moving average is $16.97. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $20.68. The company has a market capitalization of $2.48 billion, a P/E ratio of 19.06 and a beta of 0.54.

ACADIA Pharmaceuticals 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.