Truist Financial Corp Reduces Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Truist Financial Corp cut its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,618 shares of the biopharmaceutical company’s stock after selling 4,965 shares during the period. Truist Financial Corp’s holdings in ACADIA Pharmaceuticals were worth $910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ACAD. Quest Partners LLC raised its stake in ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 1,047 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in ACADIA Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 1,066 shares in the last quarter. KBC Group NV raised its stake in ACADIA Pharmaceuticals by 67.0% during the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock worth $93,000 after acquiring an additional 2,044 shares in the last quarter. Atria Investments Inc raised its stake in ACADIA Pharmaceuticals by 10.8% during the 3rd quarter. Atria Investments Inc now owns 24,437 shares of the biopharmaceutical company’s stock worth $376,000 after acquiring an additional 2,384 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in ACADIA Pharmaceuticals by 13.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 21,087 shares of the biopharmaceutical company’s stock worth $324,000 after acquiring an additional 2,499 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $19.60 on Friday. The company’s 50 day moving average price is $18.42 and its 200 day moving average price is $16.85. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $24.53. The company has a market capitalization of $3.26 billion, a PE ratio of 25.13 and a beta of 0.37.

Analyst Ratings Changes

Several brokerages recently commented on ACAD. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday. Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday. Finally, Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.00.

About ACADIA Pharmaceuticals

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.