UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Free Report) by 12.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 233,329 shares of the biopharmaceutical company’s stock after buying an additional 26,445 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.14% of ACADIA Pharmaceuticals worth $5,903,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth about $569,634,000. Palo Alto Investors LP purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at about $72,461,629. Norges Bank acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $40,266,000. Millennium Management LLC raised its position in ACADIA Pharmaceuticals by 2,052.1% during the third quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock worth $31,652,000 after acquiring an additional 1,414,315 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of ACADIA Pharmaceuticals by 390.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock valued at $35,187,000 after purchasing an additional 1,312,426 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.
Insider Activity
In related news, EVP Elizabeth Thompson sold 16,558 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the transaction, the executive vice president directly owned 18,994 shares in the company, valued at approximately $496,313.22. This represents a 46.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Schneyer sold 14,292 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.22, for a total value of $417,612.24. Following the completion of the sale, the executive vice president directly owned 67,828 shares in the company, valued at approximately $1,981,934.16. The trade was a 17.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 36,699 shares of company stock worth $1,019,894 over the last quarter. 26.20% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Stock Performance
ACAD stock opened at $27.58 on Wednesday. The company has a 50 day moving average price of $27.40 and a two-hundred day moving average price of $23.96. The stock has a market capitalization of $4.75 billion, a P/E ratio of 12.42 and a beta of 0.86. ACADIA Pharmaceuticals Inc. has a one year low of $19.69 and a one year high of $30.96.
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The company had revenue of $308.00 million for the quarter, compared to analyst estimates of $296.55 million. During the same quarter in the prior year, the company posted $0.16 EPS. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. Research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.63 earnings per share for the current fiscal year.
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.
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