Point72 Asset Management, L.P. Reduces $17M in ACADIA Pharmaceuticals Inc. ($ACAD)
Key Points
- Point72 Asset Management, L.P. changed its ACADIA Pharmaceuticals Inc. ($ACAD) stake by 23.7% last quarter, cutting to 2,577,916 shares worth $54.37 million.
- $ACAD last traded around $21.09.
Point72 Asset Management, L.P. reduced its position in ACADIA Pharmaceuticals Inc. ($ACAD) by 23.7% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,577,916 shares of ACADIA Pharmaceuticals Inc. after selling 799,395 shares during the quarter. Point72 Asset Management, L.P.'s holdings in ACADIA Pharmaceuticals Inc. were worth $54.37 million as of its most recent filing.
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About ACADIA Pharmaceuticals Inc.
ACADIA Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development and commercialization of medicines for neurological and rare disease in North America. The company offers NUPLAZID (pimavanserin), a selective serotonin inverse agonist/antagonist for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 to treat the symptoms of Rett syndrome by reducing neuroinflammation and supporting synaptic function. It also develops remlifanserin, which is in phase 2 clinical trial for the treatment of alzheimer's disease psychosis and lewy body dementia psychosis; ACP-211, which is in phase 2 clinical trial to treat major depressive disorder; ACP-711, which is in phase I clinical trial for the treatment of essential tremor; and ACP-271, a GPR88 agonist for the treatment of tardive dyskinesia and huntington's disease and is in phase I trial. In addition, the company develops ACP-2591, a cGP analogue which is in Phase 1 clinical trial to treat rett syndrome and fragile X syndrome; and STOKE Antisense Oligonucleotide Program, which is in discovery program for SYNGAP1 syndrome. It has a license agreement with Neuren Pharmaceuticals Limited to trofinetide for Rett syndrome and other indications; and a license and collaboration agreement with Stoke Therapeutics, Inc. to discover, develop, and commercialize novel RNA-based medicines for the potential treatment of severe and rare genetic neurodevelopmental diseases of the CNS. The company was formerly known as Receptor Technologies, Inc. and changed its name ACADIA Pharmaceuticals Inc. in 1997. ACADIA Pharmaceuticals Inc. was incorporated in 1993 and is headquartered in San Diego, California.
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