Bank of New York Mellon Corp raised its stake in shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) by 85.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,768 shares of the biopharmaceutical company’s stock after buying an additional 91,328 shares during the period. Bank of New York Mellon Corp owned 0.39% of Alder BioPharmaceuticals worth $4,938,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. LMR Partners LLP acquired a new stake in shares of Alder BioPharmaceuticals during the second quarter valued at about $483,000. Emerald Advisers Inc. PA acquired a new stake in shares of Alder BioPharmaceuticals during the second quarter valued at about $5,898,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Alder BioPharmaceuticals during the second quarter valued at about $5,990,000. American Century Companies Inc. raised its stake in shares of Alder BioPharmaceuticals by 5.9% in the second quarter. American Century Companies Inc. now owns 77,244 shares of the biopharmaceutical company’s stock valued at $1,929,000 after buying an additional 4,274 shares in the last quarter. Finally, Smith Asset Management Group LP acquired a new stake in shares of Alder BioPharmaceuticals during the second quarter valued at about $269,000.
Shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) traded down 0.96% during midday trading on Friday, reaching $33.97. The company had a trading volume of 443,868 shares. The stock’s market capitalization is $1.70 billion. The company’s 50-day moving average is $31.91 and its 200-day moving average is $27.53. Alder BioPharmaceuticals Inc. has a 1-year low of $15.82 and a 1-year high of $39.43.
Alder BioPharmaceuticals (NASDAQ:ALDR) last released its earnings results on Tuesday, July 26th. The biopharmaceutical company reported ($0.79) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.75) by $0.04. The business earned $0.11 million during the quarter, compared to analyst estimates of $1.14 million. During the same quarter last year, the business earned ($0.46) earnings per share. The company’s quarterly revenue was up 112900.0% on a year-over-year basis. On average, equities research analysts forecast that Alder BioPharmaceuticals Inc. will post ($2.87) EPS for the current year.
Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Alder BioPharmaceuticals in a research report on Tuesday, September 13th. They set an “overweight” rating and a $40.00 target price for the company. Jefferies Group reissued a “buy” rating on shares of Alder BioPharmaceuticals in a report on Tuesday, August 23rd. Zacks Investment Research lowered Alder BioPharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Finally, Brean Capital reissued a “positive” rating and issued a $45.00 price objective on shares of Alder BioPharmaceuticals in a report on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $43.20.
In other Alder BioPharmaceuticals news, VP Jeffrey T. L. Smith sold 3,000 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $31.17, for a total value of $93,510.00. Following the sale, the vice president now directly owns 3,000 shares of the company’s stock, valued at $93,510. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Randall C. Schatzman sold 10,000 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $32.48, for a total value of $324,800.00. Following the completion of the sale, the insider now directly owns 124,768 shares in the company, valued at $4,052,464.64. The disclosure for this sale can be found here. 11.50% of the stock is owned by company insiders.
Alder BioPharmaceuticals Company Profile
Alder Biopharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and focuses to commercialize therapeutic antibodies with the potential to transform current treatment paradigms. The Company has developed an antibody platform designed to select antibodies that have the potential to maximize efficacy, as well as speed of onset and durability of therapeutic response.
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