Uniting Wealth Partners LLC Invests $202,000 in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Uniting Wealth Partners LLC purchased a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 11,000 shares of the biopharmaceutical company’s stock, valued at approximately $202,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in shares of ACADIA Pharmaceuticals by 259.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company’s stock worth $3,439,000 after purchasing an additional 161,331 shares during the last quarter. PDT Partners LLC acquired a new position in ACADIA Pharmaceuticals during the 3rd quarter worth $203,000. State Street Corp raised its holdings in ACADIA Pharmaceuticals by 3.0% during the 3rd quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after purchasing an additional 173,084 shares during the last quarter. Barclays PLC lifted its holdings in ACADIA Pharmaceuticals by 126.2% in the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock valued at $4,269,000 after buying an additional 154,854 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock worth $44,234,000 after purchasing an additional 30,826 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total transaction of $54,065.55. Following the transaction, the executive vice president now directly owns 56,889 shares in the company, valued at approximately $969,957.45. This trade represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the sale, the director now directly owns 17,595 shares of the company’s stock, valued at $320,756.85. The trade was a 21.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,433 shares of company stock worth $187,319. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock opened at $16.62 on Thursday. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.15 and a 1 year high of $20.68. The firm’s 50 day moving average price is $18.26 and its 200-day moving average price is $17.05. The stock has a market cap of $2.77 billion, a P/E ratio of 21.31 and a beta of 0.54.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ACAD. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average 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.