Wellington Management Group LLP Sells 6,873 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Wellington Management Group LLP lowered its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 11.0% in the 4th quarter, HoldingsChannel reports. The firm owned 55,712 shares of the biopharmaceutical company’s stock after selling 6,873 shares during the period. Wellington Management Group LLP’s holdings in ACADIA Pharmaceuticals were worth $1,022,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. DnB Asset Management AS grew its position in shares of ACADIA Pharmaceuticals by 38.7% during the 4th quarter. DnB Asset Management AS now owns 14,202 shares of the biopharmaceutical company’s stock worth $261,000 after buying an additional 3,964 shares during the period. denkapparat Operations GmbH acquired a new stake in ACADIA Pharmaceuticals in the fourth quarter worth $195,000. Norges Bank bought a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at $25,555,000. JPMorgan Chase & Co. raised its holdings in shares of ACADIA Pharmaceuticals by 61.7% during the fourth quarter. JPMorgan Chase & Co. now owns 713,360 shares of the biopharmaceutical company’s stock valued at $13,090,000 after purchasing an additional 272,236 shares during the period. Finally, Elo Mutual Pension Insurance Co bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $216,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Mark C. Schneyer sold 2,708 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $14.82, for a total transaction of $40,132.56. Following the sale, the executive vice president now directly owns 59,456 shares in the company, valued at $881,137.92. The trade was a 4.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the transaction, the director now owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,169 shares of company stock valued at $242,686 over the last three months. Corporate insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $14.58 on Monday. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $20.68. The firm has a 50-day moving average price of $17.57 and a two-hundred day moving average price of $16.97. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 18.69 and a beta of 0.54.

Analyst Ratings Changes

A number of brokerages recently commented on ACAD. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 8th. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.93.

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.