Nowadays, there are many facts and figures for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) investors to track, but it is smart to take note of a company’s short sellers. Some metrics typically used are: (a) the fraction of a company’s float that the shorts are currently shorting, in addition to (b) the change in shorting activity.
Heightened bearish shorting typically means what it implies: investors have turned less fond of a company. Short selling that’s too high, however, may have a positive effect on stock price, as the shorts may be forced to cover their positions.
Here at Insider Monkey, it is not a secret that we monitor hedgies’ sentiment, but it is also crucial to pair this information with overall short information. A few, large investors might disclose that they’re short on a certain stock, but it isn’t an SEC requirement. Nevertheless, some individual investors might wish to stay away from heavily short sold stocks with elevated hedgie investment, while others might want short-squeeze opportunities. For those wanting a market-beating piggybacking strategy, discover the details of our premium strategy.
Let’s take a glance at the recent info pertaining to ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD).
Tracking the most recent FINRA short interest data, which is released two times monthly, we can see that ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has a short interest of 9.30% of float. This is a -4.2% change from the previous filing period. With a float of 51.47M shares, this represents a short ratio of 1.30.
It’s also important to keep an eye on hedge fund holdings via their quarterly 13F filings. According to our data, Julian Baker and Felix Baker’s Baker Bros. Advisors had the biggest position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), worth close to $124 million, accounting for 2.5% of its total 13F portfolio. Coming in second is Peter Kolchinsky of RA Capital Management, with a $62.2 million position; 13.3% of its 13F portfolio is allocated to the company. Some other hedgies with similar optimism include Jacob Gottlieb’s Visium Asset Management, and Samuel Isaly’s OrbiMed Advisors.
Also, insider trading activity, especially when it’s bullish, is at its handiest when the company we’re looking at has seen transactions within the past six months. Over the latest six-month time period, ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has experienced 1 unique insiders buying, and 4 insider sales (see the details of insider trades here).
The aforementioned tools–short sale information, hedge fund data and insider sentiment–are something every investor should be aware of. Though it’s difficult to find a usable strategy from short interest data, the latter two give lots of market beating opportunities if you know where to look.