Millennium Management LLC lowered its holdings in Albireo Pharma Inc (NASDAQ:ALBO) by 33.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 104,016 shares of the biopharmaceutical company’s stock after selling 51,595 shares during the period. Millennium Management LLC’s holdings in Albireo Pharma were worth $3,693,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALBO. Metropolitan Life Insurance Co. NY purchased a new stake in Albireo Pharma in the 2nd quarter worth approximately $118,000. Acadian Asset Management LLC purchased a new stake in Albireo Pharma in the 2nd quarter worth approximately $165,000. MetLife Investment Advisors LLC purchased a new stake in Albireo Pharma in the 2nd quarter worth approximately $167,000. DRW Securities LLC purchased a new stake in Albireo Pharma in the 2nd quarter worth approximately $320,000. Finally, Rhumbline Advisers purchased a new stake in Albireo Pharma in the 2nd quarter worth approximately $335,000. Institutional investors and hedge funds own 63.41% of the company’s stock.
In other news, insider Ronald Harold Wilfred Cooper bought 788 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was purchased at an average price of $31.85 per share, with a total value of $25,097.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.60% of the stock is currently owned by corporate insiders.
Albireo Pharma (NASDAQ:ALBO) last announced its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.24). The firm had revenue of $0.73 million during the quarter, compared to analysts’ expectations of $2.00 million. On average, equities research analysts predict that Albireo Pharma Inc will post -3.39 EPS for the current fiscal year.
Several research firms have weighed in on ALBO. Zacks Investment Research upgraded Albireo Pharma from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Tuesday, July 24th. BidaskClub raised Albireo Pharma from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. Cowen reissued a “buy” rating on shares of Albireo Pharma in a research report on Wednesday, August 8th. Finally, Wedbush reissued an “outperform” rating and issued a $69.00 target price on shares of Albireo Pharma in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Albireo Pharma currently has an average rating of “Buy” and an average target price of $59.40.
Albireo Pharma Profile
Albireo Pharma, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel bile acid modulators to treat orphan pediatric liver diseases and gastrointestinal (GI) disorders in the United States. Its lead product candidate includes A4250, an orally administered ileal sodium dependent bile acid transporter (IBAT) inhibitor that is in phase III clinical trial for treating progressive familial intrahepatic cholestasis and phase II clinical trial for treating biliary atresia, alagille syndrome, and other cholestatic liver diseases.
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