Marshall Wace LLP Has $18.23 Million Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Marshall Wace LLP trimmed its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 16.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 993,593 shares of the biopharmaceutical company's stock after selling 195,019 shares during the quarter. Marshall Wace LLP owned approximately 0.60% of ACADIA Pharmaceuticals worth $18,232,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter worth about $47,000. KBC Group NV grew its holdings in shares of ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after buying an additional 2,044 shares in the last quarter. Globeflex Capital L P acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $168,000. Xponance Inc. purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $186,000. Finally, Vinva Investment Management Ltd acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter worth approximately $187,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock traded up $0.21 during midday trading on Thursday, reaching $14.83. 967,861 shares of the company were exchanged, compared to its average volume of 1,848,895. The company's 50 day moving average price is $16.85 and its two-hundred day moving average price is $16.92. The company has a market cap of $2.47 billion, a P/E ratio of 19.01 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $20.68.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ACAD shares. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a "hold" rating and a $22.00 target price on the stock. Guggenheim cut shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and cut their price target for the company from $23.00 to $20.00 in a report on Friday, January 3rd. Morgan Stanley reissued an "equal weight" rating and set a $20.00 price objective on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.93.

Insider Transactions at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the transaction, the director now directly owns 17,595 shares of the company's stock, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark C. Schneyer sold 2,708 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total value of $40,132.56. Following the transaction, the executive vice president now owns 59,456 shares in the company, valued at approximately $881,137.92. This trade represents a 4.36 % 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 in the last three months. 28.30% of the stock is currently owned by corporate insiders.

About ACADIA Pharmaceuticals

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.