Marshall Wace North America L.P. reduced its holdings in shares of Acceleron Pharma Inc. (NASDAQ:XLRN) by 66.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,833 shares of the biopharmaceutical company’s stock after selling 44,730 shares during the quarter. Marshall Wace North America L.P. owned 0.06% of Acceleron Pharma worth $685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its holdings in shares of Acceleron Pharma by 969.9% during the second quarter. BNP Paribas Arbitrage SA now owns 3,627 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 3,288 shares in the last quarter. NJ State Employees Deferred Compensation Plan bought a new position in shares of Acceleron Pharma during the second quarter valued at $213,000. Bank of Montreal Can bought a new position in shares of Acceleron Pharma during the first quarter valued at $237,000. Parametric Portfolio Associates LLC bought a new position in shares of Acceleron Pharma during the first quarter valued at $241,000. Finally, Tudor Investment Corp ET AL lifted its holdings in shares of Acceleron Pharma by 8.5% during the first quarter. Tudor Investment Corp ET AL now owns 9,105 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 716 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.
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Acceleron Pharma Inc. (NASDAQ XLRN) opened at 37.77 on Tuesday. The firm has a 50-day moving average price of $34.79 and a 200-day moving average price of $30.50. The company’s market cap is $1.46 billion. Acceleron Pharma Inc. has a 12-month low of $23.07 and a 12-month high of $41.69.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.65) by $0.12. Acceleron Pharma had a negative return on equity of 44.67% and a negative net margin of 724.22%. The firm had revenue of $3.10 million for the quarter, compared to analyst estimates of $3.69 million. During the same period in the prior year, the firm posted ($0.59) EPS. The business’s revenue was down 3.1% compared to the same quarter last year. On average, analysts forecast that Acceleron Pharma Inc. will post ($2.70) earnings per share for the current fiscal year.
In other Acceleron Pharma news, SVP Ravindra Kumar sold 13,065 shares of Acceleron Pharma stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $35.41, for a total transaction of $462,631.65. Following the completion of the sale, the senior vice president now owns 108,392 shares of the company’s stock, valued at approximately $3,838,160.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin F. Mclaughlin sold 34,400 shares of Acceleron Pharma stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total value of $1,100,800.00. Following the sale, the chief financial officer now directly owns 80,950 shares of the company’s stock, valued at approximately $2,590,400. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,402 shares of company stock valued at $2,105,416. 3.90% of the stock is currently owned by insiders.
XLRN has been the topic of a number of research analyst reports. Goldman Sachs Group, Inc. (The) initiated coverage on Acceleron Pharma in a report on Wednesday, May 17th. They set a “sell” rating and a $20.00 price target on the stock. FBR & Co reaffirmed a “buy” rating on shares of Acceleron Pharma in a report on Thursday, May 18th. Cann reaffirmed a “buy” rating and set a $40.00 price target on shares of Acceleron Pharma in a report on Thursday, June 1st. Oppenheimer Holdings, Inc. set a $40.00 price target on Acceleron Pharma and gave the company a “buy” rating in a report on Thursday, June 1st. Finally, CIBC downgraded Acceleron Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $41.21.
About Acceleron Pharma
Acceleron Pharma Inc is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat serious and rare diseases. Its research focuses on key natural regulators of cellular growth and repair, particularly the Transforming Growth Factor-Beta (TGF-beta), protein superfamily.
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