Y Intercept Hong Kong Ltd Trims Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Y Intercept Hong Kong Ltd reduced its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 34.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,905 shares of the biopharmaceutical company's stock after selling 17,639 shares during the period. Y Intercept Hong Kong Ltd's holdings in ACADIA Pharmaceuticals were worth $604,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. R Squared Ltd bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $47,000. Quest Partners LLC lifted its holdings in ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 1,047 shares during the period. KBC Group NV grew its position in shares of ACADIA Pharmaceuticals by 67.0% in the 4th 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of ACADIA Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company's stock valued at $94,000 after buying an additional 1,066 shares during the period. Finally, PDT Partners LLC bought a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at approximately $203,000. Institutional investors own 96.71% of the company's stock.

Wall Street Analyst Weigh In

ACAD has been the topic of several recent analyst reports. HC Wainwright reiterated a "buy" rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Guggenheim lowered shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and cut their target price for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price objective for the company. Finally, StockNews.com downgraded ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

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ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD traded down $0.18 during trading on Wednesday, reaching $18.08. 1,560,674 shares of the stock traded hands, compared to its average volume of 2,703,337. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $24.27. The stock has a market cap of $3.01 billion, a P/E ratio of 23.18 and a beta of 0.37. The stock has a 50-day moving average of $18.47 and a two-hundred day moving average of $16.90.

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.