Cinctive Capital Management LP Sells 5,338 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Cinctive Capital Management LP lowered its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 12.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 39,040 shares of the biopharmaceutical company’s stock after selling 5,338 shares during the period. Cinctive Capital Management LP’s holdings in ACADIA Pharmaceuticals were worth $600,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. DekaBank Deutsche Girozentrale lifted its stake in ACADIA Pharmaceuticals by 2.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 97,284 shares of the biopharmaceutical company’s stock worth $1,745,000 after acquiring an additional 2,731 shares during the period. DNB Asset Management AS bought a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at about $165,000. Wesbanco Bank Inc. increased its position in shares of ACADIA Pharmaceuticals by 93.3% during the second quarter. Wesbanco Bank Inc. now owns 51,800 shares of the biopharmaceutical company’s stock valued at $842,000 after buying an additional 25,000 shares during the period. SG Americas Securities LLC raised its stake in ACADIA Pharmaceuticals by 17.1% in the second quarter. SG Americas Securities LLC now owns 99,476 shares of the biopharmaceutical company’s stock worth $1,616,000 after buying an additional 14,520 shares in the last quarter. Finally, M&G Plc lifted its holdings in ACADIA Pharmaceuticals by 12.4% in the second quarter. M&G Plc now owns 351,115 shares of the biopharmaceutical company’s stock worth $5,618,000 after buying an additional 38,790 shares during the period. 96.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ACAD has been the subject of several research reports. Morgan Stanley lowered ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $28.00 to $20.00 in a research report on Wednesday, August 7th. Royal Bank of Canada lowered their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, Citigroup cut their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.56.

Insider Activity

In other news, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the sale, the chief financial officer now owns 53,302 shares of the company’s stock, valued at $896,006.62. This represents a 16.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Kihara sold 4,073 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the transaction, the insider now directly owns 19,863 shares in the company, valued at approximately $333,897.03. The trade was a 17.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,661 shares of company stock valued at $414,551 in the last ninety days. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD opened at $16.30 on Wednesday. ACADIA Pharmaceuticals Inc. has a one year low of $14.15 and a one year high of $32.59. The stock has a 50-day moving average of $15.63 and a 200 day moving average of $16.03. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 20.90 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.40) earnings per share. On average, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current fiscal year.

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 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.