Legal & General Group Plc decreased its position in Acceleron Pharma Inc. (NASDAQ:XLRN) by 1.1% during the first quarter, Holdings Channel reports. The fund owned 9,547 shares of the biopharmaceutical company’s stock after selling 106 shares during the period. Legal & General Group Plc’s holdings in Acceleron Pharma were worth $252,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new position in shares of Acceleron Pharma during the first quarter worth approximately $237,000. Parametric Portfolio Associates LLC bought a new position in shares of Acceleron Pharma during the first quarter worth about $241,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Acceleron Pharma during the first quarter worth about $269,000. Trexquant Investment LP bought a new position in shares of Acceleron Pharma during the first quarter worth about $281,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Acceleron Pharma during the fourth quarter worth about $378,000. Institutional investors own 83.65% of the company’s stock.

Shares of Acceleron Pharma Inc. (NASDAQ:XLRN) opened at 35.11 on Thursday. The firm’s 50 day moving average is $32.30 and its 200 day moving average is $28.78. Acceleron Pharma Inc. has a 1-year low of $23.07 and a 1-year high of $41.69. The firm’s market capitalization is $1.36 billion.

Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $3.69 million. During the same quarter last year, the firm posted ($0.59) earnings per share. Acceleron Pharma’s revenue was down 3.1% compared to the same quarter last year. Analysts anticipate that Acceleron Pharma Inc. will post ($2.73) EPS for the current fiscal year.

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A number of equities analysts have recently issued reports on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $40.00 price target on shares of Acceleron Pharma in a report on Friday, July 28th. Zacks Investment Research downgraded shares of Acceleron Pharma from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub upgraded shares of Acceleron Pharma from a “buy” rating to a “strong-buy” rating in a report on Sunday. Credit Suisse Group set a $35.00 price target on shares of Acceleron Pharma and gave the company a “buy” rating in a report on Saturday, August 5th. Finally, Citigroup Inc. increased their price target on shares of Acceleron Pharma to $44.00 and gave the company a “buy” rating in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $41.53.

In other Acceleron Pharma news, CFO Kevin F. Mclaughlin sold 34,400 shares of the business’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 sale, the chief financial officer now owns 80,950 shares in the company, valued at approximately $2,590,400. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Ravindra Kumar sold 937 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $32.00, for a total value of $29,984.00. Following the sale, the senior vice president now owns 96,264 shares in the company, valued at approximately $3,080,448. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,402 shares of company stock worth $2,105,416. Corporate 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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Institutional Ownership by Quarter for Acceleron Pharma (NASDAQ:XLRN)

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