ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 5.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,734 shares of the biopharmaceutical company’s stock after selling 2,018 shares during the period. Sei Investments Co.’s holdings in ACADIA Pharmaceuticals were worth $532,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd grew its holdings in shares of ACADIA Pharmaceuticals by 70.5% during the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 840 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter valued at about $48,000. Acadian Asset Management LLC purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter worth approximately $111,000. Shell Asset Management Co. increased its position in ACADIA Pharmaceuticals by 65.7% during the first quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 2,909 shares during the period. Finally, Old Well Partners LLC purchased a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $257,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ACAD has been the topic of a number of research reports. Needham & Company LLC lowered their target price on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada lowered their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. BMO Capital Markets started coverage on shares of ACADIA Pharmaceuticals in a report on Thursday, June 27th. They issued an “outperform” rating and a $31.00 target price for the company. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Finally, UBS Group reduced their price objective on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.56.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $14.59 on Thursday. ACADIA Pharmaceuticals Inc. has a one year low of $14.44 and a one year high of $32.59. The firm has a market capitalization of $2.41 billion, a P/E ratio of -1,459.00, a PEG ratio of 0.55 and a beta of 0.38. The company’s fifty day moving average is $15.98 and its two-hundred day moving average is $16.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The firm had revenue of $241.96 million for the quarter, compared to the consensus estimate of $235.95 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The firm’s revenue was up 46.4% on a year-over-year basis. On average, sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Stephen Davis sold 31,747 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at $2,850,560.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the transaction, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark C. Schneyer sold 9,733 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $148,720.24. Following the completion of the sale, the chief financial officer now directly owns 43,735 shares in the company, valued at $668,270.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,014 shares of company stock worth $779,494 in the last quarter. Company insiders own 28.30% of the company’s stock.

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.