Pictet Asset Management Holding SA Sells 37,281 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Pictet Asset Management Holding SA lessened its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 467,443 shares of the biopharmaceutical company's stock after selling 37,281 shares during the quarter. Pictet Asset Management Holding SA owned about 0.28% of ACADIA Pharmaceuticals worth $8,578,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of ACADIA Pharmaceuticals by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company's stock valued at $255,939,000 after purchasing an additional 104,444 shares in the last quarter. State Street Corp boosted its holdings in ACADIA Pharmaceuticals by 3.0% during the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company's stock worth $91,878,000 after buying an additional 173,084 shares in the last quarter. Geode Capital Management LLC grew its position in ACADIA Pharmaceuticals by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company's stock worth $44,234,000 after buying an additional 30,826 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of ACADIA Pharmaceuticals by 380.3% in the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock valued at $45,576,000 after buying an additional 1,966,607 shares in the last quarter. Finally, Norges Bank bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $25,555,000. 96.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the business's stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 3,171 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total value of $54,065.55. Following the sale, the executive vice president now owns 56,889 shares of the company's stock, valued at approximately $969,957.45. This trade represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,433 shares of company stock worth $187,319. Insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Trading Down 5.0 %

NASDAQ ACAD traded down $0.77 on Monday, reaching $14.61. The stock had a trading volume of 2,167,515 shares, compared to its average volume of 1,839,301. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.15 and a 1 year high of $20.68. The business has a 50 day moving average price of $18.06 and a 200 day moving average price of $17.04. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 18.73 and a beta of 0.54.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ACAD. Needham & Company LLC restated a "buy" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Cantor Fitzgerald reissued an "overweight" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a "hold" rating and a $22.00 price objective for the company. Guggenheim downgraded shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Finally, HC Wainwright restated a "buy" rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.93.

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.