Mutual of America Capital Management LLC Sells 2,020 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Mutual of America Capital Management LLC cut its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 11.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,910 shares of the biopharmaceutical company’s stock after selling 2,020 shares during the quarter. Mutual of America Capital Management LLC’s holdings in ACADIA Pharmaceuticals were worth $343,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ACAD. Picton Mahoney Asset Management bought a new position in shares of ACADIA Pharmaceuticals in the 1st quarter worth about $32,000. Banque Transatlantique SA bought a new position in shares of ACADIA Pharmaceuticals in the 1st quarter worth about $31,000. Federated Hermes Inc. increased its stake in shares of ACADIA Pharmaceuticals by 231.5% in the 1st quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,618 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of ACADIA Pharmaceuticals in the 1st quarter worth about $52,000. Finally, GAMMA Investing LLC increased its stake in shares of ACADIA Pharmaceuticals by 627.3% in the 1st quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company’s stock worth $58,000 after acquiring an additional 3,030 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors.

Insider Activity at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 22,000 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $25.18, for a total value of $553,960.00. Following the transaction, the executive vice president owned 40,130 shares in the company, valued at $1,010,473.40. This represents a 35.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth A. Garofalo sold 1,600 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total transaction of $41,568.00. Following the completion of the transaction, the director owned 25,382 shares in the company, valued at $659,424.36. This trade represents a 5.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 27,098 shares of company stock worth $678,256 in the last quarter. Company insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 1.6%

Shares of NASDAQ ACAD opened at $22.62 on Wednesday. The firm’s 50-day moving average price is $23.16 and its 200-day moving average price is $21.52. The company has a market cap of $3.82 billion, a PE ratio of 17.01, a PEG ratio of 8.06 and a beta of 0.75. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $264.57 million for the quarter, compared to the consensus estimate of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 EPS. As a group, equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on ACAD shares. Citigroup started coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, October 21st. They issued a “buy” rating and a $33.00 price target for the company. TD Cowen increased their price target on shares of ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, September 11th. JMP Securities increased their price target on shares of ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Cowen reiterated a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.33.

ACADIA Pharmaceuticals Company 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.