Acceleron Pharma Inc. (XLRN) Stake Lowered by ProShare Advisors LLC
ProShare Advisors LLC decreased its holdings in shares of Acceleron Pharma Inc. (NASDAQ:XLRN) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,655 shares of the biopharmaceutical company’s stock after selling 646 shares during the quarter. ProShare Advisors LLC owned 0.06% of Acceleron Pharma worth $688,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Birchview Capital LP purchased a new stake in Acceleron Pharma in the second quarter valued at approximately $456,000. Teachers Advisors LLC raised its position in shares of Acceleron Pharma by 2.1% during the 1st 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 in the last quarter. AXA purchased a new stake in shares of Acceleron Pharma during the 2nd quarter valued at $9,833,000. TD Asset Management Inc. raised its position in shares of Acceleron Pharma by 0.8% during the 2nd quarter. TD Asset Management Inc. now owns 78,800 shares of the biopharmaceutical company’s stock valued at $2,395,000 after buying an additional 600 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC raised its position in shares of Acceleron Pharma by 33.3% during the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 20,000 shares of the biopharmaceutical company’s stock valued at $529,000 after buying an additional 5,000 shares in the last quarter. 77.35% of the stock is owned by institutional investors.
In related news, major shareholder Corp /De/ Celgene bought 745,592 shares of the company’s stock in a transaction on Monday, September 25th. The shares were acquired at an average cost of $37.00 per share, for a total transaction of $27,586,904.00. Following the purchase, the insider now directly owns 6,118,479 shares of the company’s stock, valued at $226,383,723. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin F. Mclaughlin sold 34,400 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total transaction of $1,100,800.00. Following the completion of the transaction, the chief financial officer now owns 80,950 shares in the company, valued at $2,590,400. The disclosure for this sale can be found here. Insiders sold a total of 117,915 shares of company stock worth $4,160,901 in the last ninety days. 3.90% of the stock is currently owned by insiders.
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Shares of Acceleron Pharma Inc. (NASDAQ XLRN) opened at 37.81 on Tuesday. The stock’s market capitalization is $1.46 billion. The firm has a 50-day moving average of $36.59 and a 200 day moving average of $31.51. Acceleron Pharma Inc. has a one year low of $23.07 and a one year high of $41.69.
Acceleron Pharma (NASDAQ:XLRN) last posted 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). The company had revenue of $3.10 million during the quarter, compared to the consensus estimate of $3.69 million. Acceleron Pharma had a negative return on equity of 44.67% and a negative net margin of 724.22%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.59) earnings per share. On average, equities research analysts predict that Acceleron Pharma Inc. will post ($2.70) EPS for the current year.
Several brokerages recently issued reports on XLRN. Piper Jaffray Companies reissued a “buy” rating and issued a $40.00 target price on shares of Acceleron Pharma in a research note on Friday, July 28th. Zacks Investment Research upgraded Acceleron Pharma from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Thursday, July 13th. Credit Suisse Group reiterated a “buy” rating and issued a $46.00 price objective on shares of Acceleron Pharma in a report on Tuesday, July 4th. BidaskClub upgraded Acceleron Pharma from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Instinet restated a “buy” rating and issued a $58.00 target price on shares of Acceleron Pharma in a research report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $42.81.
Acceleron Pharma Profile
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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