Nantahala Capital Management LLC reduced its stake in Acer Therapeutics Inc. (NASDAQ:ACER – Get Rating) by 4.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 741,010 shares of the biopharmaceutical company's stock after selling 36,810 shares during the period. Nantahala Capital Management LLC's holdings in Acer Therapeutics were worth $934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Acer Therapeutics by 55.5% during the 1st quarter. Vanguard Group Inc. now owns 278,215 shares of the biopharmaceutical company's stock worth $807,000 after buying an additional 99,335 shares during the period. Renaissance Technologies LLC lifted its position in Acer Therapeutics by 216.8% during the second quarter. Renaissance Technologies LLC now owns 69,700 shares of the biopharmaceutical company's stock worth $88,000 after acquiring an additional 47,700 shares during the last quarter. Finally, Copperwynd Financial LLC bought a new stake in shares of Acer Therapeutics during the second quarter worth approximately $29,000. 9.76% of the stock is owned by institutional investors.

Insider Activity at Acer Therapeutics

In other news, CEO Chris Schelling acquired 819,672 shares of the stock in a transaction on Tuesday, November 29th. The shares were purchased at an average price of $1.22 per share, for a total transaction of $999,999.84. Following the transaction, the chief executive officer now directly owns 2,712,529 shares of the company's stock, valued at $3,309,285.38. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 20.20% of the stock is currently owned by corporate insiders.

Acer Therapeutics Price Performance

Acer Therapeutics Company Profile

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Acer Therapeutics Inc, a pharmaceutical company, focuses on the acquisition, development, and commercialization of therapies for serious rare and life-threatening diseases. Its pipeline includes four clinical-stage candidates comprising EDSIVO for the treatment of vascular Ehlers-Danlos Syndrome in patients with a confirmed type III collagen mutation; ACER-001, a formulation of sodium phenylbutyrate for the treatment of various inborn errors of metabolism, including urea cycle disorders and maple syrup urine disease; ACER-801 (osanetant) for the treatment of induced Vasomotor Symptoms; and ACER-2820 (emetine), a host-directed therapy against a variety of infectious diseases, including COVID-19.

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