Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Acadia Pharmaceuticals Inc shares valued at $474,877 were sold by DAVIS STEPHEN on Apr 08 ’24. At $17.87 per share, DAVIS STEPHEN sold 26,574 shares. The insider’s holdings dropped to 144,267 shares worth approximately $2.56 million following the completion of this transaction.
Also, Schneyer Mark C. sold 2,716 shares, netting a total of over 48,535 in proceeds. Following the sale of shares at $17.87 each, the insider now holds 28,742 shares.
Before that, Teehan Brendan had sold 2,568 shares from its account. In a trade valued at $45,890, the EVP, COO, HEAD OF COMMERCIAL traded Acadia Pharmaceuticals Inc shares for $17.87 each. Upon closing the transaction, the insider’s holdings decreased to 2,568 shares, worth approximately $0.69 million.
As published in a research note from Needham on March 12, 2024, Acadia Pharmaceuticals Inc [ACAD] has been retained to a Buy and the price target has been revised to $32. Analysts at Mizuho downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid March. As of January 30, 2024, Robert W. Baird has initiated its “an Outperform” rating for ACAD. Earlier on January 24, 2024, Needham upgraded its rating. Their new recommendation was “a Buy” for ACAD stock which previously was a “a Hold”.
Analyzing ACAD Stock Performance
During the last five days, there has been a drop of approximately -3.75%. Over the course of the year, Acadia Pharmaceuticals Inc shares have dropped approximately -43.37%. Shares of the company reached a 52-week high of $31.82 on 01/02/24 and a 52-week low of $17.55 on 04/10/24. A 50-day SMA is recorded $22.22, while a 200-day SMA reached $24.96. Nevertheless, trading volume fell to 1.07 million shares from 1.73 million shares the previous day.
Support And Resistance Levels for Acadia Pharmaceuticals Inc (ACAD)
According to the 24-hour chart, there is a support level at 17.60, which, if violated, would cause prices to drop to 17.46. In the upper region, resistance lies at 17.82. The next price resistance is at 17.90. RSI (Relative Strength Index) is 30.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.19, which suggests the price will decrease in the coming days. Percent R is at 87.54%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Acadia Pharmaceuticals Inc subject to short interest?
Stocks of Acadia Pharmaceuticals Inc saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.39 million shares to 11.2 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 10.81 million shares. A jump of 3.48% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.66 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.66.
