Profund Advisors LLC Cuts Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Profund Advisors LLC trimmed its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,081 shares of the biopharmaceutical company’s stock after selling 660 shares during the quarter. Profund Advisors LLC’s holdings in ACADIA Pharmaceuticals were worth $1,487,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Gabelli Funds LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter worth about $216,000. Edgestream Partners L.P. purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter worth about $2,016,000. Russell Investments Group Ltd. raised its holdings in shares of ACADIA Pharmaceuticals by 3.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 336,774 shares of the biopharmaceutical company’s stock worth $8,066,000 after purchasing an additional 11,964 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 1.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 981,452 shares of the biopharmaceutical company’s stock worth $23,506,000 after purchasing an additional 12,158 shares during the period. Finally, Cim Investment Management Inc. purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter worth about $246,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 51,563 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $21.96, for a total value of $1,132,323.48. Following the completion of the transaction, the chief executive officer now owns 89,131 shares in the company, valued at approximately $1,957,316.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Stephen Davis sold 51,563 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $21.96, for a total transaction of $1,132,323.48. Following the completion of the transaction, the chief executive officer now owns 89,131 shares in the company, valued at approximately $1,957,316.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Kihara sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $25.88, for a total value of $51,760.00. Following the transaction, the insider now owns 10,778 shares of the company’s stock, valued at approximately $278,934.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,932 shares of company stock worth $1,543,547. 27.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Oppenheimer reiterated a “market perform” rating and set a $25.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, August 3rd. JMP Securities raised their target price on ACADIA Pharmaceuticals from $39.00 to $42.00 and gave the company a “market outperform” rating in a report on Friday, November 3rd. Canaccord Genuity Group dropped their target price on ACADIA Pharmaceuticals from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $42.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, August 22nd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.67.

ACADIA Pharmaceuticals Trading Up 0.4 %

Shares of ACAD opened at $22.92 on Tuesday. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -24.91 and a beta of 0.62. The stock has a 50 day moving average of $23.04 and a 200-day moving average of $25.02. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.45 and a 52 week high of $33.99.

ACADIA Pharmaceuticals 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. It offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.