Aster Capital Management DIFC Ltd Makes New $745,000 Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Aster Capital Management DIFC Ltd bought a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,609 shares of the biopharmaceutical company’s stock, valued at approximately $745,000.

Other institutional investors have also made changes to their positions in the company. R Squared Ltd acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $47,000. KBC Group NV grew its stake in shares of ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 2,044 shares during the last quarter. Globeflex Capital L P acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $168,000. Xponance Inc. acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $186,000. Finally, Vinva Investment Management Ltd bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $187,000. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Trading Down 4.6 %

Shares of ACADIA Pharmaceuticals stock opened at $15.38 on Friday. The stock’s fifty day simple moving average is $18.14 and its 200 day simple moving average is $17.05. The company has a market capitalization of $2.57 billion, a PE ratio of 19.72 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.15 and a 12 month high of $20.68.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ACAD. Needham & Company LLC reissued a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $23.93.

Insiders Place Their Bets

In related news, EVP Mark C. Schneyer sold 3,171 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $54,065.55. Following the sale, the executive vice president now directly owns 56,889 shares of the company’s stock, valued at approximately $969,957.45. The trade was a 5.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the company’s stock in a transaction 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. The trade was a 21.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,433 shares of company stock worth $187,319 over the last ninety days. 28.30% of the stock is currently owned by corporate insiders.

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.