Jump Financial LLC Trims Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Jump Financial LLC lessened its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 7.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 154,006 shares of the biopharmaceutical company’s stock after selling 12,382 shares during the quarter. Jump Financial LLC’s holdings in ACADIA Pharmaceuticals were worth $2,826,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of ACADIA Pharmaceuticals by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock valued at $255,939,000 after acquiring an additional 104,444 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ACADIA Pharmaceuticals by 1.1% in the 3rd 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 in the last quarter. SG Americas Securities LLC boosted its stake in shares of ACADIA Pharmaceuticals by 380.3% during the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after purchasing an additional 1,966,607 shares during the last quarter. Norges Bank purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $25,555,000. Finally, Renaissance Technologies LLC raised its position in shares of ACADIA Pharmaceuticals by 204.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company’s stock valued at $22,507,000 after buying an additional 823,333 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Up 1.1 %

Shares of ACADIA Pharmaceuticals stock opened at $14.73 on Friday. The company has a fifty day moving average price of $17.23 and a 200 day moving average price of $16.93. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $20.68. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 18.88 and a beta of 0.54.

Analyst Ratings Changes

ACAD has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 8th. Guggenheim lowered ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.93.

Insider Activity

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 2,708 shares of the company’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $14.82, for a total value of $40,132.56. Following the completion of the transaction, the executive vice president now owns 59,456 shares in the company, valued at $881,137.92. This represents a 4.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the sale, the director now owns 17,595 shares in the company, valued at $320,756.85. This represents a 21.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,169 shares of company stock worth $242,686. 28.30% of the stock is currently owned by corporate insiders.

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.