Asymmetry Capital Management L.P. lifted its stake in Acceleron Pharma Inc (NASDAQ:XLRN) by 62.3% during the first quarter, Holdings Channel reports. The institutional investor owned 30,125 shares of the biopharmaceutical company’s stock after acquiring an additional 11,561 shares during the quarter. Acceleron Pharma makes up approximately 2.3% of Asymmetry Capital Management L.P.’s investment portfolio, making the stock its 15th largest position. Asymmetry Capital Management L.P.’s holdings in Acceleron Pharma were worth $1,403,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Comerica Bank boosted its stake in shares of Acceleron Pharma by 1.2% in the fourth quarter. Comerica Bank now owns 24,369 shares of the biopharmaceutical company’s stock worth $964,000 after buying an additional 290 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Acceleron Pharma by 13.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,958 shares of the biopharmaceutical company’s stock worth $138,000 after purchasing an additional 356 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Acceleron Pharma by 17.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,602 shares of the biopharmaceutical company’s stock worth $113,000 after purchasing an additional 386 shares in the last quarter. Knott David M boosted its position in Acceleron Pharma by 6.1% during the fourth quarter. Knott David M now owns 17,400 shares of the biopharmaceutical company’s stock worth $758,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Clarfeld Financial Advisors LLC purchased a new position in Acceleron Pharma during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 85.05% of the company’s stock.
In other Acceleron Pharma news, CEO Habib J. Dable sold 7,460 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $44.60, for a total transaction of $332,716.00. Following the completion of the transaction, the chief executive officer now owns 76,754 shares of the company’s stock, valued at $3,423,228.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John D. Quisel sold 3,622 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $44.64, for a total value of $161,686.08. Following the transaction, the executive vice president now directly owns 54,004 shares of the company’s stock, valued at approximately $2,410,738.56. The disclosure for this sale can be found here. Insiders have sold 23,730 shares of company stock valued at $1,060,959 in the last three months. Insiders own 2.50% of the company’s stock.
A number of equities analysts have issued reports on XLRN shares. BidaskClub upgraded Acceleron Pharma from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. ValuEngine upgraded Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 4th. Oppenheimer reiterated an “outperform” rating on shares of Acceleron Pharma in a research report on Monday, April 22nd. Zacks Investment Research upgraded Acceleron Pharma from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Friday, May 3rd. Finally, HC Wainwright increased their price target on Acceleron Pharma from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $57.70.
Shares of Acceleron Pharma stock opened at $41.76 on Monday. Acceleron Pharma Inc has a 12 month low of $32.53 and a 12 month high of $59.59. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -16.12 and a beta of 1.31. The company has a quick ratio of 16.18, a current ratio of 19.26 and a debt-to-equity ratio of 0.05.
Acceleron Pharma (NASDAQ:XLRN) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.07). Acceleron Pharma had a negative net margin of 965.39% and a negative return on equity of 35.94%. The firm had revenue of $2.78 million for the quarter, compared to analyst estimates of $3.67 million. During the same period in the previous year, the company earned ($0.58) EPS. Acceleron Pharma’s revenue was down 13.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Acceleron Pharma Inc will post -2.42 EPS for the current fiscal year.
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About Acceleron Pharma
Acceleron Pharma Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics to treat serious and rare diseases. Its therapeutic candidates include luspatercept, which is in Phase III clinical trials for the treatment of myelodysplastic syndromes and beta-thalassemia; Phase II clinical trials for the treatment of patients with transfusion-dependent beta-thalassemia and myelofibrosis.
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