Acceleron Pharma Inc (NASDAQ:XLRN) CFO Kevin F. Mclaughlin sold 648 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $48.02, for a total value of $31,116.96. Following the transaction, the chief financial officer now owns 42,279 shares in the company, valued at $2,030,237.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of XLRN stock opened at $41.73 on Friday. The stock has a market capitalization of $2.20 billion, a PE ratio of -16.11 and a beta of 1.41. Acceleron Pharma Inc has a 52-week low of $32.53 and a 52-week high of $59.59.
Acceleron Pharma (NASDAQ:XLRN) last issued its quarterly earnings data on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.08). The company had revenue of $3.80 million during the quarter, compared to analyst estimates of $3.21 million. Acceleron Pharma had a negative net margin of 849.62% and a negative return on equity of 36.63%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.62) EPS. Sell-side analysts expect that Acceleron Pharma Inc will post -2.15 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its holdings in Acceleron Pharma by 1.2% in the 4th quarter. Comerica Bank now owns 24,369 shares of the biopharmaceutical company’s stock worth $964,000 after purchasing an additional 290 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Acceleron Pharma by 17.4% in the 4th 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 during the period. Knott David M raised its holdings in Acceleron Pharma by 6.1% in the 4th 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 during the period. Clarfeld Financial Advisors LLC acquired a new position in Acceleron Pharma in the 4th quarter worth about $44,000. Finally, PNC Financial Services Group Inc. raised its holdings in Acceleron Pharma by 24.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the biopharmaceutical company’s stock worth $323,000 after purchasing an additional 1,460 shares during the period. 84.65% of the stock is owned by institutional investors.
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Acceleron Pharma Company Profile
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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