James Kihara Sells 1,095 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock

James Kihara, an insider at ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), recently sold 1,095 shares of the company on March 26th. The shares were sold at an average price of $17.05, resulting in a total transaction value of $18,669.75. As a result of this sale, Kihara now directly owns 21,275 shares of ACADIA Pharmaceuticals, which are valued at approximately $362,738.75. This transaction marks a 4.89% reduction in his ownership stake. The details of the sale were made public through a filing with the SEC.

In addition to this recent sale, James Kihara conducted another transaction in February. On February 24th, he sold 475 shares of ACADIA Pharmaceuticals stock at an average price of $19.96, which amounted to a total of $9,481.00.

ACADIA Pharmaceuticals Price Performance

On the trading day following Kihara's sale, ACADIA Pharmaceuticals saw a slight decline of $0.08, bringing the stock price down to $17.03. The trading volume during this day was reported at 902,668 shares, which is lower than the company's average volume of 1,762,028 shares. Over the past year, ACADIA Pharmaceuticals has recorded a low of $14.15 and a high of $20.68. The company currently holds a market capitalization of approximately $2.84 billion, with a price-to-earnings ratio of 21.83 and a beta of 0.43. The stock's 50-day moving average is $18.35 and the 200-day moving average is $17.02.

Hedge Funds' Activities with ACADIA Pharmaceuticals

Large institutional investors have recently altered their positions in ACADIA Pharmaceuticals. SG Americas Securities LLC notably increased its stake by 380.3% in the fourth quarter, now holding 2,483,731 shares valued at about $45,576,000. Barclays PLC also raised its holdings by 126.2% in the third quarter, acquiring an additional 154,854 shares, bringing their total to 277,565 shares valued at $4,269,000. Other firms, such as Burney Co. and Proficio Capital Partners LLC, have acquired new positions in the company as well. Institutional ownership of ACADIA Pharmaceuticals now stands at 96.71%.

Wall Street Analysts' Outlook on ACADIA Pharmaceuticals

Recent reports from analysts indicate a generally positive outlook for ACADIA Pharmaceuticals. Morgan Stanley maintained an "equal weight" rating while setting a target price of $20.00 on the shares. StockNews.com upgraded their rating from "hold" to "buy." Cantor Fitzgerald has given an "overweight" rating with a price target of $28.00. In contrast, Guggenheim downgraded the stock from "buy" to "neutral," reducing the price target from $23.00 to $20.00. Overall, the stock has received ratings of ten for a buy and eight for a hold, according to MarketBeat data, with an average rating of “Moderate Buy” and a price target of approximately $23.93.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals is a biopharmaceutical company specialized in developing and commercializing innovative medicines targeted at unmet medical needs related to central nervous system (CNS) disorders and rare diseases. The company’s lead product, NUPLAZID (pimavanserin), is used to treat hallucinations and delusions associated with Parkinson's disease psychosis. They also offer DAYBUE, a novel treatment for Rett Syndrome, utilizing a synthetic analog of an insulin-like growth factor 1 tripeptide.

shares, sale, company