Sei Investments Co. Raises Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Sei Investments Co. increased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 57.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,430 shares of the biopharmaceutical company's stock after acquiring an additional 18,399 shares during the quarter. Sei Investments Co.'s holdings in ACADIA Pharmaceuticals were worth $925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $47,000. KBC Group NV increased 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 valued at $93,000 after acquiring an additional 2,044 shares in the last quarter. Globeflex Capital L P purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth about $168,000. Xponance Inc. purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth about $186,000. Finally, Vinva Investment Management Ltd bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth about $187,000. Institutional investors own 96.71% of the company's stock.

Insider Activity at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 3,171 shares of the 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 completion of the transaction, the executive vice president now directly owns 56,889 shares of the company's stock, valued at approximately $969,957.45. This represents a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the sale, the director now directly owns 17,595 shares in the company, valued at $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. In the last 90 days, insiders have sold 14,169 shares of company stock valued at $242,686. 28.30% of the stock is owned by company insiders.

ACADIA Pharmaceuticals Trading Up 3.3 %

ACADIA Pharmaceuticals stock traded up $0.47 during mid-day trading on Friday, hitting $14.58. The stock had a trading volume of 1,904,307 shares, compared to its average volume of 1,854,084. The firm's 50 day moving average is $17.57 and its 200 day moving average is $16.96. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $20.68. The firm has a market capitalization of $2.43 billion, a P/E ratio of 18.69 and a beta of 0.54.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a "hold" rating and a $22.00 price objective on the stock. Finally, Guggenheim cut shares of 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 equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $23.93.

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.