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

Aster Capital Management DIFC Ltd bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 40,609 shares of the biopharmaceutical company’s stock, valued at approximately $745,000.

Other hedge funds have also added to or reduced their stakes in the company. Aviva PLC bought a new stake in ACADIA Pharmaceuticals during the 4th quarter worth about $658,000. Wells Fargo & Company MN increased its position in shares of ACADIA Pharmaceuticals by 7.7% in the fourth quarter. Wells Fargo & Company MN now owns 202,349 shares of the biopharmaceutical company’s stock valued at $3,713,000 after acquiring an additional 14,447 shares during the last quarter. Uniting Wealth Partners LLC bought a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $202,000. ExodusPoint Capital Management LP boosted its position in ACADIA Pharmaceuticals by 20.2% during the fourth quarter. ExodusPoint Capital Management LP now owns 70,786 shares of the biopharmaceutical company’s stock valued at $1,299,000 after purchasing an additional 11,885 shares during the last quarter. Finally, Arete Wealth Advisors LLC grew its stake in ACADIA Pharmaceuticals by 15.9% in the fourth quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company’s stock valued at $251,000 after purchasing an additional 1,875 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ACAD. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $20.00 in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.93.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $15.38 on Friday. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 19.72 and a beta of 0.54. The stock’s fifty day moving average price is $18.14 and its two-hundred day moving average price is $17.05. ACADIA Pharmaceuticals Inc. has a one year low of $14.15 and a one year high of $20.68.

Insider Activity

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the sale, the director now owns 17,595 shares in the company, valued at $320,756.85. The trade was a 21.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total transaction of $54,065.55. Following the transaction, the executive vice president now owns 56,889 shares in the company, valued at approximately $969,957.45. The trade was a 5.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,433 shares of company stock valued at $187,319. 28.30% of the stock is owned by company insiders.

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.