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Hedge Funds Are Buying Acceleron Pharma Inc (XLRN)

As one would reasonably expect, key money managers have jumped into Acceleron Pharma Inc (NASDAQ:XLRN) headfirst. Benjamin A. Smith’s Laurion Capital Management assembled the most outsized position in Acceleron Pharma Inc (NASDAQ:XLRN), followed by Peter Kolchinsky’s RA Capital Management, which initiated a $11.5 million position during the quarter. The following funds were also among the new XLRN investors: Lei Zhang’s Hillhouse Capital Management, Jim Simons’s Renaissance Technologies, and Cliff Asness’s AQR Capital Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Acceleron Pharma Inc (NASDAQ:XLRN) but similarly valued. These stocks are The Buckle, Inc. (NYSE:BKE), Endurance International Group Hldgs Inc (NASDAQ:EIGI), Globalstar, Inc. (PINK:GSAT), and Methode Electronics Inc. (NYSE:MEI). This group of stocks’ market caps resemble XLRN’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BKE 15 114776 3
EIGI 7 66146 1
GSAT 18 106574 -2
MEI 15 118796 -1

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $102 million. That figure was $158 million in XLRN’s case. Globalstar, Inc. (PINK:GSAT) is the most popular stock in this table. On the other hand Endurance International Group Hldgs Inc (NASDAQ:EIGI) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Acceleron Pharma Inc (NASDAQ:XLRN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.

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