Dana Investment Advisors Inc. bought a new position in shares of Acceleron Pharma Inc. (NASDAQ:XLRN) during the second quarter, HoldingsChannel reports. The institutional investor bought 3,933 shares of the biopharmaceutical company’s stock, valued at approximately $494,000.
Other large investors have also recently added to or reduced their stakes in the company. Capital Analysts LLC acquired a new position in Acceleron Pharma during the first quarter worth about $30,000. Russell Investments Group Ltd. purchased a new position in Acceleron Pharma in the 1st quarter worth about $38,000. Eaton Vance Management purchased a new position in Acceleron Pharma in the 1st quarter worth about $86,000. Panagora Asset Management Inc. purchased a new position in Acceleron Pharma in the 1st quarter worth about $121,000. Finally, E Fund Management Co. Ltd. purchased a new position in Acceleron Pharma in the 1st quarter worth about $137,000. 87.94% of the stock is currently owned by hedge funds and other institutional investors.
XLRN opened at $132.19 on Wednesday. The stock has a market cap of $8.05 billion, a PE ratio of -35.63 and a beta of 0.35. Acceleron Pharma Inc. has a 1 year low of $98.71 and a 1 year high of $146.15. The stock’s 50 day simple moving average is $124.62 and its 200-day simple moving average is $127.04.
In other Acceleron Pharma news, CEO Habib J. Dable sold 57,814 shares of the business’s stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $126.73, for a total value of $7,326,768.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.70% of the stock is currently owned by insiders.
A number of equities analysts recently weighed in on XLRN shares. Piper Sandler lifted their price target on Acceleron Pharma from $143.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, August 5th. SVB Leerink reaffirmed a “hold” rating on shares of Acceleron Pharma in a research note on Sunday, June 27th. Zacks Investment Research cut Acceleron Pharma from a “hold” rating to a “strong sell” rating and set a $104.00 target price on the stock. in a research note on Friday, July 23rd. Wolfe Research initiated coverage on Acceleron Pharma in a research note on Monday, July 19th. They set a “buy” rating and a $183.00 target price on the stock. Finally, Oppenheimer lifted their price target on Acceleron Pharma from $141.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, June 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Acceleron Pharma currently has an average rating of “Buy” and a consensus target price of $151.67.
About Acceleron Pharma
Acceleron Pharma, Inc is a biopharmaceutical company, which engages in the discovery, development and commercialization of therapeutics to treat serious and rare diseases. Its product candidates include Luspatercept, designed to patients with chronic anemia associated within a wide range of blood diseases; ACE-083, designed for the treatment of focal muscle disorders; and Sotatercept, designed to treat pulmonary arterial hypertension.
Further Reading: What are the Benefits of Index Funds?
Want to see what other hedge funds are holding XLRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acceleron Pharma Inc. (NASDAQ:XLRN).
Receive News & Ratings for Acceleron Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acceleron Pharma and related companies with MarketBeat.com's FREE daily email newsletter.