Trading Report: Today, Acceleron Pharma Inc. (XLRN) Shares Down 4.7% Following Insider Selling

Today, Acceleron Pharma Inc. (XLRN)  Shares Down 4.7%  Following Insider Selling

Acceleron Pharma Inc. (NASDAQ:XLRN) shares dropped 4.7% during trading on Thursday following insider selling activity. The company traded as low as $34.16 and last traded at $34.52, with a volume of 91,355 shares trading hands. The stock had previously closed at $36.22.

Specifically, SVP John D. Quisel sold 45,952 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $38.05, for a total value of $1,748,473.60. Following the transaction, the senior vice president now directly owns 77,004 shares of the company’s stock, valued at approximately $2,930,002.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John D. Quisel sold 21,438 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $32.14, for a total transaction of $689,017.32. Following the completion of the transaction, the senior vice president now directly owns 86,723 shares in the company, valued at $2,787,277.22. The disclosure for this sale can be found here. 12.20% of the stock is currently owned by company insiders.

XLRN has been the topic of a number of research reports. Piper Jaffray Cos. reissued a “buy” rating on shares of Acceleron Pharma in a research note on Friday, June 10th. FBR & Co restated a “buy” rating and set a $63.00 price target on shares of Acceleron Pharma in a report on Monday, June 13th. Barclays PLC raised their price target on shares of Acceleron Pharma from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, June 13th. Leerink Swann restated a “buy” rating on shares of Acceleron Pharma in a report on Sunday, June 12th. Finally, Morgan Stanley restated an “overweight” rating on shares of Acceleron Pharma in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $47.11.

The company’s market capitalization is $1.30 billion. The firm’s 50 day moving average is $33.69 and its 200-day moving average is $32.46.

Acceleron Pharma (NASDAQ:XLRN) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.50) by $0.09. Acceleron Pharma had a negative return on equity of 30.00% and a negative net margin of 190.41%. The company had revenue of $3.20 million for the quarter, compared to analyst estimates of $3.77 million. The business’s quarterly revenue was down 43.9% compared to the same quarter last year. Analysts expect that Acceleron Pharma Inc. will post ($1.59) earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. increased its stake in shares of Acceleron Pharma by 5.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 112,057 shares of the biopharmaceutical company’s stock valued at $3,808,000 after buying an additional 5,634 shares during the period. Legal & General Group Plc increased its stake in shares of Acceleron Pharma by 4.3% in the second quarter. Legal & General Group Plc now owns 4,214 shares of the biopharmaceutical company’s stock valued at $145,000 after buying an additional 173 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Acceleron Pharma by 10.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 20,217 shares of the biopharmaceutical company’s stock valued at $687,000 after buying an additional 1,850 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Acceleron Pharma by 1.0% in the second quarter. Parametric Portfolio Associates LLC now owns 8,797 shares of the biopharmaceutical company’s stock valued at $299,000 after buying an additional 90 shares during the period. Finally, Pictet Asset Management Ltd. increased its stake in shares of Acceleron Pharma by 744.9% in the second quarter. Pictet Asset Management Ltd. now owns 727,427 shares of the biopharmaceutical company’s stock valued at $24,885,000 after buying an additional 641,327 shares during the period. 75.55% of the stock is currently owned by institutional investors.

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