Walleye Capital LLC Sells 74,524 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Walleye Capital LLC decreased its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 64.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,806 shares of the biopharmaceutical company’s stock after selling 74,524 shares during the quarter. Walleye Capital LLC’s holdings in ACADIA Pharmaceuticals were worth $628,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its holdings in ACADIA Pharmaceuticals by 36.2% during the 2nd quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock valued at $47,738,000 after buying an additional 781,070 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in ACADIA Pharmaceuticals by 11.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock valued at $47,693,000 after buying an additional 292,906 shares in the last quarter. Marshall Wace LLP lifted its holdings in ACADIA Pharmaceuticals by 431.1% during the 2nd quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company’s stock valued at $45,083,000 after buying an additional 2,251,940 shares in the last quarter. Fred Alger Management LLC lifted its holdings in ACADIA Pharmaceuticals by 19.8% during the 2nd quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock valued at $43,947,000 after buying an additional 446,875 shares in the last quarter. Finally, Emerald Advisers LLC lifted its holdings in ACADIA Pharmaceuticals by 2.7% during the 3rd quarter. Emerald Advisers LLC now owns 830,829 shares of the biopharmaceutical company’s stock valued at $12,778,000 after buying an additional 21,998 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $17.28 on Friday. The firm has a market cap of $2.88 billion, a PE ratio of 22.15 and a beta of 0.40. The firm has a fifty day moving average of $15.72 and a 200 day moving average of $16.07. ACADIA Pharmaceuticals Inc. has a one year low of $14.15 and a one year high of $32.59.

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

Insider Transactions at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,073 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the sale, the insider now owns 19,863 shares of the company’s stock, valued at $333,897.03. This represents a 17.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 directly owns 53,302 shares of the company’s stock, valued at $896,006.62. This represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock valued at $414,551 over the last 90 days. 28.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on ACAD shares. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. StockNews.com cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $25.56.

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.