Jupiter Asset Management Ltd. Cuts Stock Holdings in ACADIA Pharmaceuticals Inc. $ACAD

Jupiter Asset Management Ltd. lessened its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 25.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 476,317 shares of the biopharmaceutical company’s stock after selling 160,058 shares during the period. Jupiter Asset Management Ltd. owned about 0.28% of ACADIA Pharmaceuticals worth $10,165,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACAD. Geneos Wealth Management Inc. raised its stake in ACADIA Pharmaceuticals by 113.0% in the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 756 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 107.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 885 shares during the period. USA Financial Formulas bought a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter worth $41,000. GAMMA Investing LLC lifted its stake in shares of ACADIA Pharmaceuticals by 25.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 690 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in ACADIA Pharmaceuticals by 11.2% during the third quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 534 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Trading Down 1.4%

Shares of ACADIA Pharmaceuticals stock opened at $23.99 on Friday. The firm’s 50 day simple moving average is $25.75 and its two-hundred day simple moving average is $24.43. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 8.54 and a beta of 0.66. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $28.35.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, EVP Jennifer J. Rhodes sold 6,950 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $23.38, for a total transaction of $162,491.00. Following the completion of the sale, the executive vice president owned 7,609 shares of the company’s stock, valued at approximately $177,898.42. The trade was a 47.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 26.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citizens Jmp reiterated a “market outperform” rating and issued a $34.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 3rd. Piper Sandler set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $34.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, January 5th. Wall Street Zen downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Stifel Nicolaus set a $37.00 price target on ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $30.95.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.