Capital Fund Management S.A. Sells 123,399 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Capital Fund Management S.A. cut its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 660,630 shares of the biopharmaceutical company's stock after selling 123,399 shares during the period. Capital Fund Management S.A. owned approximately 0.40% of ACADIA Pharmaceuticals worth $12,123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ACAD. Vanguard Group Inc. raised its stake in shares of ACADIA Pharmaceuticals by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company's stock worth $255,939,000 after purchasing an additional 104,444 shares during the last quarter. State Street Corp raised its holdings in shares of ACADIA Pharmaceuticals by 3.0% in the 3rd quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company's stock worth $91,878,000 after purchasing an additional 173,084 shares during the period. Geode Capital Management LLC increased 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 raised its stake 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 during the period. Finally, Norges Bank purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $25,555,000. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Stock Up 0.2 %

Shares of NASDAQ ACAD traded up $0.03 during mid-day trading on Thursday, reaching $14.60. 346,735 shares of the company were exchanged, compared to its average volume of 1,848,354. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $20.68. The company's 50 day moving average price is $17.32 and its 200 day moving average price is $16.93. The stock has a market capitalization of $2.43 billion, a PE ratio of 18.77 and a beta of 0.54.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ACAD. Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price objective for the company. Needham & Company LLC restated a "buy" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 8th. Morgan Stanley reiterated an "equal weight" rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. HC Wainwright restated a "buy" rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, ACADIA Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $23.93.

Insiders Place Their Bets

In related news, EVP Mark C. Schneyer sold 3,171 shares of the company's 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 completion of the sale, the executive vice president now directly owns 56,889 shares in the company, valued at $969,957.45. This represents a 5.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the firm's 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 directly owns 17,595 shares in the company, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,169 shares of company stock valued at $242,686 over the last 90 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.