In a new filing with the U.S. Securities and Exchange Commission, Viking Global, managed by Andreas Halvorsen, has revealed raising its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD). The fund now owns 4.96 million shares of the company, up from 2.63 million shares held previously. The position is equal to 5.0% of common stock and is passive by nature.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) is a biopharmaceutical company focused on the development and commercialization of innovative medicines. The company has a market cap of $1.9 billion. In March, ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) priced an underwritten public offering of 6.40 million shares of its common stock at a price to the public of $28.50 per share, according to a statement.
For the fourth quarter of 2013, the company posted a net loss of $12.0 million, or $0.13 per common share, compared to a net loss of $6.8 million, or $0.11 per common share, for the same period in 2012. For the year ended December 31, 2013, the company reported a net loss of $37.9 million, or $0.44 per common share, compared to a net loss of $20.8 million, or $0.38 per common share, for 2012.
Julian Baker and Felix Baker’s Baker Bros. Advisors and Peter Kolchinsky’s Ra Capital Management are among the largest shareholders of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), holding 19.96 million shares and 1.17 million shares, respectively.
Norwegian Halvorsen launched Viking Global at the end of 1999. The fund returned an astonishing 89% after fees in its first full year. The value of the fund’s equity portfolio was $21.4 billion at the end of December 2013. A month ago, Viking Global disclosed upping its position in Illumina, Inc. (NASDAQ:ILMN) to almost 7.10 million shares, from around 1.7 million held at the end of the fourth quarter.
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