Julian Baker and Felix Baker, the managers of Baker Bros. Advisors, have taken advantage of Acadia Pharmaceuticals Inc (NASDAQ:ACAD) recently announced public offering to bolster their investment in the company. According to a recently amended filing with the Securities and Exchange Commission, the fund has acquired approximately 1.3 million shares at the offering price of $33.00 per share. As a result, Baker Bros. Advisors now holds 25.9 million shares, which account for roughly 21.6% of the company’s common stock.
Acadia Pharmaceuticals Inc (NASDAQ:ACAD) is a biotechnology company that focuses on the development of drugs that address central nervous system disorders. One of its leading candidate, Nuplazid, developed for patients suffering from Parkinson’s disease psychosis, has been approved by the U.S. Food and Drug Administration (FDA) at the end of April. Acadia said the annual wholesale price of Nuplazid will be $23,400 for each patient.
The company reported second quarter results on August 5, posting a loss of $71.3 million. On an adjusted basis, the loss stood at $0.51 per share, wider than the $0.48 loss per share projected by analysts. Acadia also posted $97,000 in revenue for the period. After a 68% decline from its all-time high, the stock found a bottom around the $18 level and managed to stage a rally by the end of the first quarter. It was short-lived, however, and the stock has dipped again, currently down by 10% year-to-date.
Although it is not a very popular stock among the funds followed by Insider Monkey, Acadia Pharmaceuticals Inc (NASDAQ:ACAD) registered a boost in popularity as the number of long hedge funds positions rose to 31 at the end of March from 24 registered a quarter before. Billionaire Steven Cohen made a big bullish play during the first quarter, with his family office, Point72 Asset Management, having boosted its stake by 632% to 2.22 million shares. Samuel Isaly’s OrbiMed Advisors disclosed a fresh position, having amassed 1.4 million shares by the end of March.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Baker Bros. Advisors | 25,878,893 | 0 | 25,878,893 | 0 | 25,878,893 | 21.6% |
| Baker Bros. Advisors (GP) | 25,878,893 | 0 | 25,878,893 | 0 | 25,878,893 | 21.6% |
| Felix J. Baker | 25,878,893 | 9. | 25,878,893 | 11. | 25,878,893 | 21.6% |
| Julian C. Baker | 25,878,893 | 9. | 25,878,893 | 11. | 25,878,893 | 21.6% |
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Page 1 of 9 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT
TO RULE 13d-l(a) AND AMENDMENTS THERETO
FILED PURSUANT
TO RULE 13d-2(a)
(Amendment No. 9)*
ACADIA Pharmaceuticals Inc.
(Name of Issuer)
Common Stock, par value $0.0001 per
share
(Title of Class of Securities)
004225108
(CUSIP number)
Alexandra A. Toohey
Chief Financial Officer
Baker Bros. Advisors LP
667 Madison Avenue, 21st Floor
New York, NY 10065
(212) 339-5690
(Name,
address and telephone number of person authorized to receive notices and communications)
August 9, 2016
(Date of event which requires filing of
this statement)
If
the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule
13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box ¨.
(Continued on the following pages)
(Page 1 of 9 Pages)
________________________________
*The remainder of this cover page shall
be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for
any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page
shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise
subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.
