Advantage Alpha Capital Partners LP Sells 14,715 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Advantage Alpha Capital Partners LP decreased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 59.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,199 shares of the biopharmaceutical company’s stock after selling 14,715 shares during the period. Advantage Alpha Capital Partners LP’s holdings in ACADIA Pharmaceuticals were worth $187,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in ACADIA Pharmaceuticals by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock worth $255,939,000 after buying an additional 104,444 shares in the last quarter. State Street Corp boosted its holdings in shares of ACADIA Pharmaceuticals by 3.0% during the 3rd quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock valued at $91,878,000 after acquiring an additional 173,084 shares during the last quarter. Fred Alger Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 17.8% in the third quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock worth $49,007,000 after acquiring an additional 481,950 shares during the period. Geode Capital Management LLC raised its holdings in shares of ACADIA Pharmaceuticals by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock valued at $44,234,000 after purchasing an additional 30,826 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in ACADIA Pharmaceuticals by 380.3% during the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock valued at $45,576,000 after purchasing an additional 1,966,607 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the transaction, the director now directly owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. This represents a 21.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 6,167 shares of company stock valued at $114,583 in the last 90 days. Insiders own 28.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ACAD shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $20.00 in a report on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a research note 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 ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $17.23 on Tuesday. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 22.09 and a beta of 0.43. The company has a fifty day moving average of $18.36 and a 200 day moving average of $17.02. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $20.68.

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.