Xponance Inc. Acquires New Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Xponance Inc. purchased a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the fourth quarter, HoldingsChannel reports. The fund purchased 10,151 shares of the biopharmaceutical company’s stock, valued at approximately $186,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in shares of ACADIA Pharmaceuticals by 380.3% during the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after purchasing an additional 1,966,607 shares during the period. Iron Triangle Partners LP acquired a new stake in ACADIA Pharmaceuticals in the 3rd quarter worth about $11,535,000. Eventide Asset Management LLC acquired a new stake in ACADIA Pharmaceuticals in the 3rd quarter worth about $8,882,000. Great Lakes Advisors LLC purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $9,909,000. Finally, Burney Co. purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $6,953,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction dated 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 owns 17,595 shares in the company, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark C. Schneyer sold 3,171 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $54,065.55. Following the sale, the executive vice president now owns 56,889 shares of the company’s stock, valued at approximately $969,957.45. This trade represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,433 shares of company stock worth $187,319. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Stock Down 0.7 %

Shares of NASDAQ:ACAD opened at $17.07 on Friday. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 21.88 and a beta of 0.43. The company has a 50 day moving average of $18.34 and a two-hundred day moving average of $17.04. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $20.68.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Guggenheim downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $20.00 in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective for the company. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Finally, HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.