Meeder Asset Management Inc. Grows Stock Holdings in Albireo Pharma Inc (NASDAQ:ALBO)

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Meeder Asset Management Inc. raised its stake in Albireo Pharma Inc (NASDAQ:ALBO) by 796.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,026 shares of the biopharmaceutical company’s stock after buying an additional 1,800 shares during the period. Meeder Asset Management Inc.’s holdings in Albireo Pharma were worth $65,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Federated Investors Inc. PA boosted its position in Albireo Pharma by 22.8% in the 1st quarter. Federated Investors Inc. PA now owns 719,595 shares of the biopharmaceutical company’s stock valued at $23,178,000 after buying an additional 133,449 shares during the period. Chicago Capital LLC boosted its position in Albireo Pharma by 6.8% in the 2nd quarter. Chicago Capital LLC now owns 202,241 shares of the biopharmaceutical company’s stock valued at $6,520,000 after buying an additional 12,833 shares during the period. Geode Capital Management LLC boosted its position in Albireo Pharma by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 97,434 shares of the biopharmaceutical company’s stock valued at $2,390,000 after buying an additional 9,922 shares during the period. Bank of New York Mellon Corp boosted its position in Albireo Pharma by 7.2% in the 4th quarter. Bank of New York Mellon Corp now owns 37,552 shares of the biopharmaceutical company’s stock valued at $921,000 after buying an additional 2,529 shares during the period. Finally, Alps Advisors Inc. boosted its position in Albireo Pharma by 4.5% in the 1st quarter. Alps Advisors Inc. now owns 28,912 shares of the biopharmaceutical company’s stock valued at $931,000 after buying an additional 1,253 shares during the period. 67.34% of the stock is owned by institutional investors.

Shares of ALBO opened at $22.17 on Wednesday. The company has a 50 day moving average price of $26.13 and a 200-day moving average price of $30.31. Albireo Pharma Inc has a fifty-two week low of $19.10 and a fifty-two week high of $38.69. The stock has a market capitalization of $301.91 million, a PE ratio of -5.63 and a beta of 1.52.

Albireo Pharma (NASDAQ:ALBO) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.35) earnings per share for the quarter, topping the consensus estimate of ($1.44) by $0.09. Albireo Pharma had a negative net margin of 2,403.88% and a negative return on equity of 51.74%. The firm had revenue of $1.25 million during the quarter, compared to analysts’ expectations of $1.11 million. On average, equities analysts expect that Albireo Pharma Inc will post -5.91 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on ALBO shares. HC Wainwright reissued a “buy” rating and issued a $62.00 price objective on shares of Albireo Pharma in a research report on Sunday, August 11th. William Blair reaffirmed a “buy” rating on shares of Albireo Pharma in a research report on Monday, July 15th. Zacks Investment Research cut shares of Albireo Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Wedbush reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Albireo Pharma in a research report on Friday, August 9th. Finally, ValuEngine raised shares of Albireo Pharma from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Albireo Pharma has a consensus rating of “Buy” and a consensus target price of $51.50.

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 is 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.

See Also: Return On Assets

Institutional Ownership by Quarter for Albireo Pharma (NASDAQ:ALBO)

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