Alps Advisors Inc. boosted its position in shares of Acceleron Pharma Inc. (NASDAQ:XLRN) by 25.3% during the second quarter, Holdings Channel reports. The firm owned 52,287 shares of the biopharmaceutical company’s stock after buying an additional 10,569 shares during the period. Alps Advisors Inc.’s holdings in Acceleron Pharma were worth $1,777,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. Legal & General Group Plc increased its position in shares of Acceleron Pharma by 33.8% in the first quarter. Legal & General Group Plc now owns 4,041 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 1,020 shares during the last quarter. Smith Asset Management Group LP bought a new position in shares of Acceleron Pharma during the second quarter worth approximately $202,000. Benchmark Capital Advisors increased its position in shares of Acceleron Pharma by 76.9% in the first quarter. Benchmark Capital Advisors now owns 11,500 shares of the biopharmaceutical company’s stock worth $303,000 after buying an additional 5,000 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Acceleron Pharma by 18.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 18,367 shares of the biopharmaceutical company’s stock worth $485,000 after buying an additional 2,821 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Acceleron Pharma during the second quarter worth approximately $570,000. Institutional investors and hedge funds own 75.55% of the company’s stock.
Shares of Acceleron Pharma Inc. (NASDAQ:XLRN) traded down 8.01% during mid-day trading on Thursday, hitting $36.41. The stock had a trading volume of 534,038 shares. The firm’s 50-day moving average price is $33.00 and its 200 day moving average price is $32.11. The stock’s market cap is $1.37 billion. Acceleron Pharma Inc. has a 12-month low of $21.93 and a 12-month high of $50.86.
Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by $0.09. The company earned $3.20 million during the quarter, compared to analyst estimates of $3.77 million. Acceleron Pharma had a negative net margin of 190.41% and a negative return on equity of 30.00%. The firm’s quarterly revenue was down 43.9% compared to the same quarter last year. Equities analysts forecast that Acceleron Pharma Inc. will post ($1.60) EPS for the current fiscal year.
A number of research analysts recently commented on XLRN shares. Barclays PLC upped their price objective on Acceleron Pharma from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, June 13th. Citigroup Inc. initiated coverage on Acceleron Pharma in a research note on Thursday. They issued a “neutral” rating and a $40.00 price target for the company. Zacks Investment Research cut Acceleron Pharma from a “buy” rating to a “hold” rating in a research note on Thursday, July 21st. FBR & Co reissued a “buy” rating on shares of Acceleron Pharma in a research note on Wednesday. Finally, Leerink Swann reissued a “buy” rating on shares of Acceleron Pharma in a research note on Sunday, June 12th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $47.11.
In related news, SVP John D. Quisel sold 45,952 shares of Acceleron Pharma stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $38.05, for a total value of $1,748,473.60. Following the sale, the senior vice president now owns 77,004 shares of the company’s stock, valued at $2,930,002.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Steven D. Ertel sold 32,270 shares of Acceleron Pharma stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $34.56, for a total value of $1,115,251.20. Following the completion of the sale, the chief operating officer now directly owns 137,365 shares in the company, valued at approximately $4,747,334.40. The disclosure for this sale can be found here. 12.20% of the stock is owned by corporate insiders.
About Acceleron Pharma
Acceleron Pharma Inc is a United States-based clinical stage biopharmaceutical company. The Company focuses on discovering and developing therapies to treat a range of diseases. Its therapeutic candidate, luspatercept, is being evaluated in Phase III studies for the treatment of the hematologic diseases myelodysplastic syndromes (MDS) and beta-thalassemia.
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