Edgestream Partners L.P. Grows Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Edgestream Partners L.P. lifted its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 20.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 264,390 shares of the biopharmaceutical company's stock after buying an additional 45,061 shares during the quarter. Edgestream Partners L.P. owned approximately 0.16% of ACADIA Pharmaceuticals worth $4,852,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC raised its position 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 during the last quarter. Iron Triangle Partners LP acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth approximately $11,535,000. Eventide Asset Management LLC purchased a new stake in ACADIA Pharmaceuticals in the 3rd quarter valued at approximately $8,882,000. Fred Alger Management LLC grew its holdings in ACADIA Pharmaceuticals by 17.8% during the 3rd quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company's stock valued at $49,007,000 after buying an additional 481,950 shares during the last quarter. Finally, Burney Co. purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth $6,953,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock traded down $0.42 during trading on Wednesday, reaching $16.77. 1,628,441 shares of the company's stock were exchanged, compared to its average volume of 2,572,952. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $20.68. The company's 50-day moving average is $18.49 and its two-hundred day moving average is $16.96. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 21.50 and a beta of 0.43.

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Insider Buying and Selling

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 6,167 shares of company stock valued at $114,583. Corporate insiders own 28.30% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on ACAD shares. Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a "hold" rating and a $22.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Cantor Fitzgerald reissued an "overweight" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $24.00.

ACADIA Pharmaceuticals 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.