Citigroup Inc. Sells 92,770 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Citigroup Inc. lessened its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 5.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,574,070 shares of the biopharmaceutical company’s stock after selling 92,770 shares during the period. Citigroup Inc. owned 0.93% of ACADIA Pharmaceuticals worth $33,591,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ACAD. Norges Bank bought a new position in shares of ACADIA Pharmaceuticals in the second quarter worth approximately $31,679,000. TFG Asset Management GP Ltd lifted its stake in shares of ACADIA Pharmaceuticals by 50.8% during the 2nd quarter. TFG Asset Management GP Ltd now owns 161,396 shares of the biopharmaceutical company’s stock valued at $3,481,000 after buying an additional 54,396 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of ACADIA Pharmaceuticals by 2.8% during the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock valued at $52,509,000 after buying an additional 65,914 shares in the last quarter. SG Americas Securities LLC boosted its holdings in ACADIA Pharmaceuticals by 613.4% in the 3rd quarter. SG Americas Securities LLC now owns 39,680 shares of the biopharmaceutical company’s stock worth $847,000 after buying an additional 34,118 shares during the period. Finally, Atria Investments Inc boosted its holdings in ACADIA Pharmaceuticals by 26.1% in the 2nd quarter. Atria Investments Inc now owns 22,087 shares of the biopharmaceutical company’s stock worth $476,000 after buying an additional 4,574 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, EVP Jennifer J. Rhodes sold 6,950 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $23.38, for a total transaction of $162,491.00. Following the sale, the executive vice president directly owned 7,609 shares in the company, valued at $177,898.42. This represents a 47.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 28.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $34.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 3rd. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 3rd. Mizuho upgraded shares of ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $29.00 to $35.00 in a research report on Monday. Citigroup upped their target price on shares of ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, Royal Bank Of Canada cut their target price on shares of ACADIA Pharmaceuticals from $35.00 to $31.00 and set an “outperform” rating for the company in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.35.

ACADIA Pharmaceuticals Stock Down 0.6%

ACAD stock opened at $24.59 on Wednesday. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $28.35. The firm has a market capitalization of $4.16 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 8.68 and a beta of 0.66. The company has a fifty day simple moving average of $25.66 and a two-hundred day simple moving average of $24.44.

ACADIA Pharmaceuticals Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.