Hudson Bay Capital Management LP Trims Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Hudson Bay Capital Management LP lowered its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 29.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 265,000 shares of the biopharmaceutical company’s stock after selling 110,000 shares during the quarter. Hudson Bay Capital Management LP owned 0.16% of ACADIA Pharmaceuticals worth $4,863,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Summit Investment Advisors Inc. lifted its position in shares of ACADIA Pharmaceuticals by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 795 shares during the last quarter. Arete Wealth Advisors LLC lifted its holdings in ACADIA Pharmaceuticals by 15.9% during the 4th quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company’s stock valued at $251,000 after buying an additional 1,875 shares in the last quarter. KBC Group NV boosted its position in ACADIA Pharmaceuticals by 67.0% in the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 2,044 shares during the period. R Squared Ltd purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $47,000. Finally, MetLife Investment Management LLC grew its stake in ACADIA Pharmaceuticals by 3.8% in the 4th quarter. MetLife Investment Management LLC now owns 73,048 shares of the biopharmaceutical company’s stock worth $1,340,000 after acquiring an additional 2,669 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ACAD shares. UBS Group lowered their price target on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, April 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.70.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $17.52 on Tuesday. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $20.68. The company’s fifty day moving average price is $15.82 and its 200 day moving average price is $17.00. The company has a market capitalization of $2.93 billion, a PE ratio of 22.46 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $244.32 million during the quarter, compared to analysts’ expectations of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. ACADIA Pharmaceuticals’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. On average, equities analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares in the company, valued at approximately $320,756.85. The trade was a 21.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 3,498 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $14.60, for a total value of $51,070.80. Following the transaction, the executive vice president now directly owns 62,773 shares of the company’s stock, valued at $916,485.80. The trade was a 5.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,994 shares of company stock valued at $313,131 in the last three months. 26.50% of the stock is currently owned by company 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.