Truist Financial Corp lessened its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) by 15.2% during the third quarter, HoldingsChannel.com reports. The fund owned 41,868 shares of the biopharmaceutical company’s stock after selling 7,513 shares during the period. Truist Financial Corp’s holdings in ACADIA Pharmaceuticals were worth $685,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its holdings in shares of ACADIA Pharmaceuticals by 30.4% during the 2nd quarter. State Street Corp now owns 6,593,950 shares of the biopharmaceutical company’s stock valued at $92,909,000 after buying an additional 1,536,756 shares in the last quarter. Bain Capital Life Sciences Investors LLC bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth approximately $8,461,000. Emerald Advisers LLC boosted its stake in shares of ACADIA Pharmaceuticals by 54.5% in the 3rd quarter. Emerald Advisers LLC now owns 1,329,626 shares of the biopharmaceutical company’s stock valued at $21,753,000 after purchasing an additional 468,877 shares in the last quarter. Invesco Ltd. grew its holdings in shares of ACADIA Pharmaceuticals by 613.0% during the 1st quarter. Invesco Ltd. now owns 475,866 shares of the biopharmaceutical company’s stock valued at $11,525,000 after purchasing an additional 409,120 shares during the last quarter. Finally, Pictet Asset Management SA raised its position in ACADIA Pharmaceuticals by 87.6% in the 2nd quarter. Pictet Asset Management SA now owns 847,964 shares of the biopharmaceutical company’s stock worth $11,948,000 after purchasing an additional 395,959 shares during the period. Institutional investors own 92.79% of the company’s stock.
In related news, President Srdjan R. Stankovic sold 1,847 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, November 21st. The stock was sold at an average price of $15.07, for a total value of $27,834.29. Following the completion of the sale, the president now owns 61,234 shares of the company’s stock, valued at $922,796.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Stephen Davis sold 3,904 shares of the company’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $17.13, for a total value of $66,875.52. Following the completion of the sale, the chief executive officer now directly owns 84,633 shares in the company, valued at approximately $1,449,763.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Srdjan R. Stankovic sold 1,847 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, November 21st. The shares were sold at an average price of $15.07, for a total value of $27,834.29. Following the transaction, the president now owns 61,234 shares in the company, valued at $922,796.38. The disclosure for this sale can be found here. Insiders sold 19,372 shares of company stock valued at $342,038 over the last three months. Insiders own 28.40% of the company’s stock.
Analyst Upgrades and Downgrades
ACADIA Pharmaceuticals Price Performance
Shares of NASDAQ ACAD opened at $19.35 on Friday. ACADIA Pharmaceuticals Inc. has a 1 year low of $12.24 and a 1 year high of $28.06. The firm has a 50-day moving average of $15.97 and a 200 day moving average of $16.10. The stock has a market cap of $3.13 billion, a P/E ratio of -14.33 and a beta of 0.58.
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. ACADIA Pharmaceuticals had a negative net margin of 42.49% and a negative return on equity of 47.09%. The company had revenue of $130.70 million for the quarter, compared to analysts’ expectations of $139.04 million. During the same quarter in the previous year, the business posted ($0.09) EPS. ACADIA Pharmaceuticals’s revenue was down .7% compared to the same quarter last year. Research analysts expect that ACADIA Pharmaceuticals Inc. will post -1.32 earnings per share for the current fiscal year.
ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.
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