Vanguard Group Inc. Boosts Stock Holdings in Acer Therapeutics Inc. (NASDAQ:ACER)

Vanguard Group Inc. grew its stake in shares of Acer Therapeutics Inc. (NASDAQ:ACER) by 6.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 179,143 shares of the biopharmaceutical company’s stock after acquiring an additional 11,094 shares during the period. Vanguard Group Inc. owned 1.25% of Acer Therapeutics worth $512,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ACER. Squarepoint Ops LLC purchased a new stake in shares of Acer Therapeutics during the first quarter worth $233,000. Dimensional Fund Advisors LP purchased a new stake in shares of Acer Therapeutics during the first quarter worth $66,000. XTX Topco Ltd purchased a new stake in shares of Acer Therapeutics during the second quarter worth $54,000. Finally, Virtu Financial LLC purchased a new stake in shares of Acer Therapeutics during the first quarter worth $55,000. Hedge funds and other institutional investors own 10.93% of the company’s stock.

ACER has been the topic of several recent research reports. Zacks Investment Research downgraded Acer Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 12th. William Blair reaffirmed a “hold” rating on shares of Acer Therapeutics in a report on Friday, October 8th.

Acer Therapeutics stock opened at $2.20 on Monday. The stock has a market cap of $31.48 million, a P/E ratio of -2.06 and a beta of 1.17. Acer Therapeutics Inc. has a fifty-two week low of $2.15 and a fifty-two week high of $5.39. The firm’s fifty day moving average price is $2.45 and its 200-day moving average price is $2.60.

Acer Therapeutics (NASDAQ:ACER) last released its quarterly earnings results on Friday, November 19th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.05. As a group, equities research analysts forecast that Acer Therapeutics Inc. will post -0.95 EPS for the current year.

Acer Therapeutics Profile

Acer Therapeutics, Inc is a pharmaceutical company. It engages in the acquisition, development and commercialization of therapies for medical needs. Its product pipeline includes ACER-001 Edsivo and ACER-2820. The Edsivo is a type of celiprolol for Vascular Ehlers-Danlos syndrome. The ACER-001 is for the treatment of urea cycle disorders and Maple Syrup Urine diseases.

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Institutional Ownership by Quarter for Acer Therapeutics (NASDAQ:ACER)