Geode Capital Management LLC Purchases 1,569 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Geode Capital Management LLC lifted its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,877,109 shares of the biopharmaceutical company’s stock after purchasing an additional 1,569 shares during the period. Geode Capital Management LLC owned 1.73% of ACADIA Pharmaceuticals worth $52,807,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in ACADIA Pharmaceuticals during the 4th quarter worth $47,000. KBC Group NV increased its position in 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 acquiring an additional 2,044 shares during the period. Globeflex Capital L P acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter worth about $168,000. Xponance Inc. acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $186,000. Finally, Vinva Investment Management Ltd bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $187,000. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Up 3.3 %

Shares of ACAD opened at $14.58 on Monday. The stock has a market cap of $2.43 billion, a PE ratio of 18.69 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. The business has a 50-day simple moving average of $17.57 and a two-hundred day simple moving average of $16.97.

Insider Activity

In related news, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total value of $54,065.55. Following the completion of the sale, the executive vice president now directly owns 56,889 shares in the company, valued at $969,957.45. This represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals 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 directly owns 17,595 shares in the company, valued at $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,169 shares of company stock valued at $242,686 over the last quarter. 28.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ACAD. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 8th. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective for the company. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $20.00 in a report on Friday, January 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.93.

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.