Mark C. Schneyer Sells 2,708 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark C. Schneyer sold 2,708 shares of the business’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $14.82, for a total transaction of $40,132.56. Following the transaction, the executive vice president now owns 59,456 shares in the company, valued at $881,137.92. The trade was a 4.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD traded down $0.51 during mid-day trading on Tuesday, reaching $14.10. 1,982,762 shares of the company were exchanged, compared to its average volume of 1,841,010. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.89 and a 1 year high of $20.68. The firm’s 50-day simple moving average is $17.89 and its 200 day simple moving average is $17.00. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 18.08 and a beta of 0.54.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Summit Investment Advisors Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company’s stock valued at $230,000 after buying an additional 795 shares during the period. Arete Wealth Advisors LLC boosted its holdings in ACADIA Pharmaceuticals by 15.9% during the 4th quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company’s stock valued at $251,000 after acquiring an additional 1,875 shares during the period. KBC Group NV grew 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 in the last quarter. Virtus Fund Advisers LLC purchased a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $39,000. Finally, R Squared Ltd acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $47,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ACAD shares. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of 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 analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, ACADIA Pharmaceuticals 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.