Hedge Funds Are Dumping Acceleron Pharma Inc (XLRN)

Since Acceleron Pharma Inc (NASDAQ:XLRN) has witnessed declining sentiment from hedge fund managers, we can see that there lies a certain “tier” of fund managers that decided to sell off their entire stakes last quarter. It’s worth mentioning that Jim Simons’ Renaissance Technologies said goodbye to the largest stake of all the hedgies watched by Insider Monkey, comprising an estimated $2 million in stock. James Dondero’s fund, Highland Capital Management, also dropped its stock, about $1.7 million worth.

Let’s go over hedge fund activity in other stocks similar to Acceleron Pharma Inc (NASDAQ:XLRN). We will take a look at Chatham Lodging Trust (NYSE:CLDT), Golub Capital BDC Inc (NASDAQ:GBDC), Safety Insurance Group, Inc. (NASDAQ:SAFT), and Calgon Carbon Corporation (NYSE:CCC). This group of stocks’ market caps resemble XLRN’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $56 million. That figure was $99 million in XLRN’s case. Chatham Lodging Trust (NYSE:CLDT) is the most popular stock in this table with a total of 16 funds reporting long positions. On the other hand Safety Insurance Group, Inc. (NASDAQ:SAFT) is the least popular one with only 6 bullish hedge fund positions. Acceleron Pharma Inc (NASDAQ:XLRN) is not the most popular stock in this group, but hedge fund interest is considerably above average. This is a positive signal and Acceleron Pharma may be an interesting stock to look into, but we consider that CLDT may be a better bet, since it is more popular among the funds we track.