Aster Capital Management DIFC Ltd acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 40,609 shares of the biopharmaceutical company's stock, valued at approximately $745,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC raised its stake in ACADIA Pharmaceuticals by 380.3% during the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after acquiring an additional 1,966,607 shares in the last quarter. Norges Bank acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $25,555,000. Great Lakes Advisors LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $9,909,000. Burney Co. bought a new position in ACADIA Pharmaceuticals during the 4th quarter valued at about $6,953,000. Finally, JPMorgan Chase & Co. boosted its position in ACADIA Pharmaceuticals by 61.7% in the fourth quarter. JPMorgan Chase & Co. now owns 713,360 shares of the biopharmaceutical company's stock valued at $13,090,000 after buying an additional 272,236 shares in the last quarter. 96.71% of the stock is owned by institutional investors.
Insider Buying and Selling at ACADIA Pharmaceuticals
In related news, EVP Mark C. Schneyer sold 2,708 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total transaction of $40,132.56. Following the completion of the transaction, the executive vice president now owns 59,456 shares in the company, valued at approximately $881,137.92. The trade was a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction 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. This trade represents 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 have sold 14,169 shares of company stock valued at $242,686. 28.30% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. StockNews.com raised 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 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a "hold" rating and a $22.00 target price on the stock. Finally, Guggenheim lowered ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their target price for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating and nine have given 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.
Get Our Latest Stock Analysis on ACAD
ACADIA Pharmaceuticals Price Performance
Shares of NASDAQ ACAD traded up $0.30 during mid-day trading on Friday, hitting $14.41. The company's stock had a trading volume of 740,961 shares, compared to its average volume of 1,848,408. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $20.68. The company's fifty day simple moving average is $17.66 and its 200-day simple moving average is $16.97. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 18.44 and a beta of 0.54.
ACADIA Pharmaceuticals Profile
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Free Report)
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.
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