Bank of New York Mellon Corp Has $7.52 Million Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Bank of New York Mellon Corp reduced its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 409,750 shares of the biopharmaceutical company's stock after selling 23,116 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.25% of ACADIA Pharmaceuticals worth $7,519,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. R Squared Ltd bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $47,000. Quest Partners LLC increased its stake in shares of ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock valued at $54,000 after buying an additional 1,047 shares during the period. KBC Group NV lifted its stake 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 acquiring an additional 2,044 shares during the period. PDT Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at $203,000. Finally, Landscape Capital Management L.L.C. bought a new position in ACADIA Pharmaceuticals in the third quarter valued at about $255,000. 96.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Guggenheim downgraded shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and cut their target price for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price objective on the stock. StockNews.com raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Morgan Stanley reaffirmed an "equal weight" rating and set a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.00.

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Insiders Place Their Bets

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the business'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 sale, the director now owns 17,595 shares of the company's stock, valued at $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 6,167 shares of company stock valued at $114,583 in the last quarter. 28.30% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals Price Performance

ACAD stock traded up $0.13 during trading hours on Wednesday, reaching $17.41. 532,375 shares of the stock were exchanged, compared to its average volume of 1,761,163. The firm's 50-day moving average is $18.40 and its 200-day moving average is $17.00. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.15 and a 12 month high of $20.68. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 22.32 and a beta of 0.43.

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.