Invesco Ltd. Trims Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Invesco Ltd. trimmed its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 512,320 shares of the biopharmaceutical company’s stock after selling 45,744 shares during the period. Invesco Ltd. owned 0.31% of ACADIA Pharmaceuticals worth $9,401,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACAD. R Squared Ltd acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $47,000. KBC Group NV increased its position in ACADIA Pharmaceuticals by 67.0% in the 4th 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 during the period. Globeflex Capital L P bought a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at $168,000. Xponance Inc. acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth $186,000. Finally, Vinva Investment Management Ltd bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $187,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

ACAD stock opened at $14.65 on Thursday. The firm has a market capitalization of $2.44 billion, a P/E ratio of 18.79 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $20.68. The company’s 50 day simple moving average is $16.85 and its 200-day simple moving average is $16.92.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark C. Schneyer sold 3,171 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $54,065.55. Following the completion of the transaction, the executive vice president now owns 56,889 shares in the company, valued at $969,957.45. This trade represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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 company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in 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 reaffirmed an “overweight” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Finally, 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 target on the stock. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, ACADIA Pharmaceuticals currently has an average 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.