Renaissance Technologies LLC Acquires 823,333 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Renaissance Technologies LLC boosted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 204.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,226,533 shares of the biopharmaceutical company's stock after purchasing an additional 823,333 shares during the quarter. Renaissance Technologies LLC owned about 0.74% of ACADIA Pharmaceuticals worth $22,507,000 at the end of the most recent quarter.

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

ACADIA Pharmaceuticals Stock Up 1.1 %

ACAD stock traded up $0.16 during midday trading on Friday, reaching $14.73. 1,208,871 shares of the company's stock traded hands, compared to its average volume of 1,854,948. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 18.88 and a beta of 0.54. The company has a 50-day simple moving average of $17.23 and a two-hundred day simple moving average of $16.93. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $20.68.

Insider Activity

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,171 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total transaction of $54,065.55. Following the transaction, the executive vice president now owns 56,889 shares of the company's stock, valued at approximately $969,957.45. This represents a 5.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the 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 transaction, the director now owns 17,595 shares in the company, valued at $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 worth $242,686. 28.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.