California Public Employees Retirement System Decreases Stake in Acceleron Pharma Inc. (XLRN)
California Public Employees Retirement System decreased its stake in Acceleron Pharma Inc. (NASDAQ:XLRN) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,900 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the period. California Public Employees Retirement System owned 0.05% of Acceleron Pharma worth $553,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. TIAA CREF Investment Management LLC increased its position in Acceleron Pharma by 25.7% in the first quarter. TIAA CREF Investment Management LLC now owns 98,743 shares of the biopharmaceutical company’s stock valued at $2,614,000 after buying an additional 20,189 shares during the period. Teachers Advisors LLC increased its position in shares of Acceleron Pharma by 2.1% in the first quarter. Teachers Advisors LLC now owns 46,080 shares of the biopharmaceutical company’s stock valued at $1,220,000 after buying an additional 942 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Acceleron Pharma during the first quarter valued at approximately $269,000. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Acceleron Pharma during the first quarter valued at approximately $501,000. Finally, American International Group Inc. increased its position in shares of Acceleron Pharma by 7.1% in the first quarter. American International Group Inc. now owns 16,878 shares of the biopharmaceutical company’s stock valued at $447,000 after buying an additional 1,119 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.
Acceleron Pharma Inc. (NASDAQ:XLRN) traded down 0.06% during mid-day trading on Monday, reaching $33.11. 123,868 shares of the company traded hands. Acceleron Pharma Inc. has a 12-month low of $23.07 and a 12-month high of $41.69. The company’s 50 day moving average price is $32.75 and its 200 day moving average price is $29.25. The firm’s market capitalization is $1.28 billion.
Acceleron Pharma (NASDAQ:XLRN) last released its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $3.69 million. During the same quarter in the previous year, the business earned ($0.59) EPS. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities research analysts predict that Acceleron Pharma Inc. will post ($2.73) EPS for the current year.
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Several research analysts recently commented on the stock. BidaskClub raised shares of Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 6th. Zacks Investment Research raised shares of Acceleron Pharma from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Thursday, July 13th. Credit Suisse Group set a $35.00 target price on shares of Acceleron Pharma and gave the stock a “buy” rating in a research note on Saturday, August 5th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $40.00 target price on shares of Acceleron Pharma in a research note on Friday, July 28th. Finally, Cann reaffirmed a “hold” rating on shares of Acceleron Pharma in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Acceleron Pharma has a consensus rating of “Buy” and an average target price of $41.21.
In other Acceleron Pharma news, SVP Ravindra Kumar sold 13,065 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $35.41, for a total value of $462,631.65. Following the sale, the senior vice president now owns 108,392 shares in the company, valued at $3,838,160.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew L. Sherman sold 16,000 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total value of $512,000.00. Following the completion of the sale, the executive vice president now owns 112,400 shares in the company, valued at approximately $3,596,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,402 shares of company stock worth $2,105,416. Insiders own 3.90% of the company’s stock.
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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