Guess Who Picked Acadia Pharmaceuticals Inc (NASDAQ:ACAD) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Acadia Pharmaceuticals Inc (NASDAQ:ACAD) reported that Baker Bros. Advisors has picked up 27,372,236 of common stock as of 2017-05-17.

The acquisition brings the aggregate amount owned by Baker Bros. Advisors to a total of 27,372,236 representing less than 22.1% stake in the company.

For those not familiar with the company, ACADIA Pharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis). NUPLAZID is a selective serotonin inverse agonist (SSIA), preferentially targeting 5-HT2A receptors. The Company is conducting a Phase II trial, referred to as the SERENE Study, designed to examine the efficacy and safety of pimavanserin as a treatment for Alzheimer’s disease (AD) Agitation. It is also conducting a Phase III, six-week, randomized, double-blind, placebo-controlled, multi-center, outpatient study, referred to as the ENHANCE-1 study, designed to examine the use of pimavanserin in patients with schizophrenia.

A glance at Acadia Pharmaceuticals Inc (NASDAQ:ACAD)’s key stats reveals a current market capitalization of 3.29 Billion based on 122.05 Million shares outstanding and a price at last close of $27.06 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-08-16, Harrigan picked up 1,000 at a purchase price of $32.97. This brings their total holding to 1,000 as of the date of the filing.

On the sell side, the most recent transaction saw Moore unload 7,856 shares at a sale price of $39.65. This brings their total holding to 1,671.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Acadia Pharmaceuticals Inc (NASDAQ:ACAD) as things move forward to see if its progress aligns with these transactions.

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