Tema Etfs LLC Takes $194,000 Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Tema Etfs LLC bought a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,596 shares of the biopharmaceutical company’s stock, valued at approximately $194,000.

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

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the sale, the director now owns 17,595 shares in the company, valued at approximately $320,756.85. This trade represents a 21.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark C. Schneyer sold 3,171 shares of the firm’s 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 completion of the sale, the executive vice president now owns 56,889 shares in the company, valued at $969,957.45. The trade was a 5.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,994 shares of company stock worth $313,131. 26.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ACAD. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. StockNews.com cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, May 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 8th. Finally, UBS Group reduced their price target on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $24.70.

ACADIA Pharmaceuticals Stock Up 26.5%

Shares of NASDAQ ACAD opened at $22.26 on Monday. The firm’s 50-day moving average price is $15.91 and its two-hundred day moving average price is $17.11. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $25.23. The stock has a market capitalization of $3.73 billion, a P/E ratio of 28.54 and a beta of 0.47.

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

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.