Is it smart to be bullish on ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)?
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Keeping this in mind, we’re going to discuss the recent info about ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD).
How have hedgies been trading ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)?
At the end of the second quarter, a total of 15 of the hedge funds we track held long positions in this stock, a change of 50% from the first quarter. With hedge funds’ capital changing hands, there exists a few noteworthy hedge fund managers who were increasing their holdings meaningfully.
When using filings from the hedgies we track, Julian Baker and Felix Baker’s Baker Bros. Advisors had the most valuable position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), worth close to $362.2 million, comprising 7.2% of its total 13F portfolio. The second largest stake is held by RA Capital Management, managed by Peter Kolchinsky, which held a $118.5 million position; 15.7% of its 13F portfolio is allocated to the stock. Other peers that are bullish include Peter Kolchinsky’s RA Capital Management, Jacob Gottlieb’s Visium Asset Management and Samuel Isaly’s OrbiMed Advisors.
With a general bullishness amongst the titans, specific money managers were breaking ground themselves. Baker Bros. Advisors, managed by Julian Baker and Felix Baker, established the biggest position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD). Baker Bros. Advisors had 362.2 million invested in the company at the end of the quarter. Peter Kolchinsky’s RA Capital Management also initiated a $118.5 million position during the quarter. The other funds with brand new ACAD positions are Peter Kolchinsky’s RA Capital Management, Jacob Gottlieb’s Visium Asset Management, and Samuel Isaly’s OrbiMed Advisors.
What do corporate executives and insiders think about ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)?
Insider buying is at its handiest when the company in focus has seen transactions within the past six months. Over the latest half-year time frame, ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators in other stocks similar to ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD). These stocks are Array Biopharma Inc (NASDAQ:ARRY), Cadence Pharmaceuticals, Inc. (NASDAQ:CADX), Merrimack Pharmaceuticals Inc (NASDAQ:MACK), Halozyme Therapeutics, Inc. (NASDAQ:HALO), and EXACT Sciences Corporation (NASDAQ:EXAS). This group of stocks belong to the biotechnology industry and their market caps resemble ACAD’s market cap.