Mark C. Schneyer Sells 773 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock

Mark C. Schneyer, the Chief Financial Officer of ACADIA Pharmaceuticals Inc.. (NASDAQ:ACAD), recently sold 773 shares of the company's stock on Monday, February 24th. The shares were sold at an average price of $19.96 each, bringing the total value of the transaction to $15,429.08. Following this sale, Schneyer now owns 53,882 shares of ACADIA Pharmaceuticals, which are currently valued at approximately $1,075,484.72. This indicates a 1.41% decrease in his ownership of the stock. The details of this transaction were filed with the Securities and Exchange Commission (SEC) and can be accessed through the SEC's website.

ACADIA Pharmaceuticals Stock Performance

On Tuesday, the ACADIA stock experienced a decline of 2.4%, falling by $0.47 to reach $19.01. During the trading session, the company saw a volume of 1,744,658 shares exchanged, which is lower than its average volume of 2,845,743 shares. Currently, the market capitalization of ACADIA Pharmaceuticals stands at $3.16 billion. The company has a price-to-earnings ratio of 24.37 and a beta of 0.37. The 50-day simple moving average of the stock is $18.28, while the 200-day simple moving average is $16.78. Over the past 12 months, the stock has touched a low of $14.15 and a high of $26.56.

Institutional Investor Activity

Recently, several institutional investors have altered their positions in ACADIA Pharmaceuticals. Mackenzie Financial Corp increased its stake by 180.1% during the last quarter, now holding 51,065 shares worth $937,000 after an additional purchase of 32,833 shares. GF Fund Management also entered the scene by acquiring new shares valued at around $64,000. In addition, CTC Alternative Strategies Ltd. took on a new position valued at about $1,012,000. Neo Ivy Capital Management significantly boosted its stake by 1,551.5%, owning 57,504 shares after buying an additional 54,022 shares. Lastly, Alpine Global Management acquired new shares worth approximately $1,020,000. At present, institutional investors and hedge funds hold about 96.71% of the company's stock.

Analyst Opinions

Several research firms have updated their positions on ACADIA Pharmaceuticals stocks. Guggenheim downgraded the stock from a "buy" to a "neutral" rating, reducing the price target from $23.00 to $20.00. Meanwhile, Needham & Company LLC reiterated a "buy" rating with a target price of $28.00. StockNews.com downgraded the stock from a "strong-buy" to a "buy" rating. Additionally, Deutsche Bank began coverage with a "hold" rating and a target price set at $22.00. HC Wainwright has reaffirmed a "buy" rating with a price objective of $27.00. As it stands, eight analysts rate the stock as a hold, while ten recommend it as a buy, leading to an overall average rating of "Moderate Buy" and a target price of $24.00 according to MarketBeat.com.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc. is a biopharmaceutical company dedicated to developing and commercializing innovative medicines that target unmet medical needs, particularly in the areas of central nervous system disorders and rare diseases in the United States. The company's key offerings include NUPLAZID (pimavanserin), which is used to treat hallucinations and delusions linked to Parkinson's disease psychosis, and DAYBUE, a novel treatment for Rett Syndrome.

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