Investors Grab Acadia Pharmaceuticals 30% Cheaper Than Its Secondary Stock Offering

Looking back to 92 days ago, Acadia Pharmaceuticals (NASD: ACAD) priced a 6,400,000 share secondary stock offering at $28.50 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time. In trading on Wednesday, bargain hunters could buy shares of ACAD and achieve a cost basis 30.8% cheaper than those buyers, with shares changing hands as low as $19.72 per share.