EntryPoint Capital LLC Boosts Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

EntryPoint Capital LLC boosted its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 137.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,022 shares of the biopharmaceutical company's stock after acquiring an additional 15,052 shares during the period. EntryPoint Capital LLC's holdings in ACADIA Pharmaceuticals were worth $478,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $47,000. Quest Partners LLC increased its position in shares of ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock worth $54,000 after purchasing an additional 1,047 shares during the last quarter. KBC Group NV raised its stake in shares of ACADIA Pharmaceuticals by 67.0% during the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after purchasing an additional 2,044 shares in the last quarter. Globeflex Capital L P bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $168,000. Finally, Xponance Inc. acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth $186,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD traded down $0.12 during trading hours on Friday, hitting $17.07. The stock had a trading volume of 872,276 shares, compared to its average volume of 1,823,322. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.15 and a 1-year high of $20.68. The firm has a market capitalization of $2.85 billion, a P/E ratio of 21.88 and a beta of 0.43. The firm has a 50 day simple moving average of $18.34 and a 200-day simple moving average of $17.04.

Remove Ads

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ACAD. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price target for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Morgan Stanley reiterated an "equal weight" rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Guggenheim cut ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their price target for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $27.00 price target 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.com, ACADIA Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.93.

Insider Activity at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 3,171 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 26th. The stock was 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 of the company's stock, valued at $969,957.45. The trade was a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 17,595 shares of the company's stock, valued at approximately $320,756.85. This represents a 21.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,433 shares of company stock valued at $187,319. 28.30% of the stock is owned by company insiders.

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.