Foresite Capital Management Ii Lowers stake in Acceleron Pharma Inc (XLRN)

Acceleron Pharma Inc (XLRN) : Foresite Capital Management Ii reduced its stake in Acceleron Pharma Inc by 71.95% during the most recent quarter end. The investment management company now holds a total of 48,839 shares of Acceleron Pharma Inc which is valued at $1,464,682 after selling 125,250 shares in Acceleron Pharma Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Acceleron Pharma Inc makes up approximately 0.93% of Foresite Capital Management Ii’s portfolio.

Other Hedge Funds, Including , Alliancebernstein boosted its stake in XLRN in the latest quarter, The investment management firm added 17,400 additional shares and now holds a total of 43,150 shares of Acceleron Pharma Inc which is valued at $1,294,069. Wade G W Inc sold out all of its stake in XLRN during the most recent quarter. The investment firm sold 10,157 shares of XLRN which is valued $334,876.Swiss National Bank boosted its stake in XLRN in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 44,800 shares of Acceleron Pharma Inc which is valued at $1,525,888.

Acceleron Pharma Inc opened for trading at $30.33 and hit $30.51 on the upside on Monday, eventually ending the session at $30.28, with a gain of 0.23% or 0.07 points. The heightened volatility saw the trading volume jump to 1,24,531 shares. Company has a market cap of $1,138 M.

On the company’s financial health, Acceleron Pharma Inc reported $-0.59 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.52. The company had revenue of $3.20 million for the quarter, compared to analysts expectations of $3.66 million. The company’s revenue was down -43.9 % compared to the same quarter last year.

Acceleron Pharma Inc. is a biopharmaceutical company focused on the discovery development and commercialization of therapeutic candidates that are based on the mechanisms that the human body uses to regulate the growth and repair of its cells and tissues. The Company’s research focuses on key natural regulators of cellular growth and repair particularly the Transforming Growth Factor-Beta (TGF-b) protein superfamily. By combining its discovery and development know-how including its knowledge of the TGF-b superfamily and its internal protein engineering and manufacturing capabilities the Company has built a discovery and development platform that has generated therapeutic candidates with new mechanisms of action. The Company has four internally discovered therapeutic candidates that are in clinical trials.

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