ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP cut its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 59.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,199 shares of the biopharmaceutical company's stock after selling 14,715 shares during the quarter. Advantage Alpha Capital Partners LP's holdings in ACADIA Pharmaceuticals were worth $187,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Cannon Global Investment Management LLC acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at $2,165,000. Vanguard Group Inc. grew its holdings in ACADIA Pharmaceuticals by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company's stock valued at $255,939,000 after buying an additional 104,444 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $466,000. KLP Kapitalforvaltning AS purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $376,000. Finally, Sei Investments Co. lifted its holdings in shares of ACADIA Pharmaceuticals by 57.4% during the 4th quarter. Sei Investments Co. now owns 50,430 shares of the biopharmaceutical company's stock worth $925,000 after acquiring an additional 18,399 shares during the period. Institutional investors and hedge funds own 96.71% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. 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. StockNews.com upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Guggenheim downgraded ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their price target for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $23.93.

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ACADIA Pharmaceuticals Price Performance

ACAD traded down $0.12 during trading hours on Friday, reaching $17.07. 872,276 shares of the stock traded hands, compared to its average volume of 1,823,321. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $20.68. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 21.88 and a beta of 0.43. The firm's fifty day simple moving average is $18.34 and its two-hundred day simple moving average is $17.03.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the company'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 directly owns 17,595 shares of the company's stock, valued at $320,756.85. This represents a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction on Wednesday, March 26th. The shares were 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 in the company, valued at $969,957.45. This trade represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,433 shares of company stock valued at $187,319 in the last ninety days. Insiders own 28.30% of the company's stock.

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.