Rafferty Asset Management LLC Sells 19,075 Shares of Albireo Pharma, Inc. (NASDAQ:ALBO)

Rafferty Asset Management LLC trimmed its holdings in shares of Albireo Pharma, Inc. (NASDAQ:ALBO) by 38.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,253 shares of the biopharmaceutical company’s stock after selling 19,075 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.16% of Albireo Pharma worth $1,064,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada grew its position in Albireo Pharma by 46.1% during the first quarter. Royal Bank of Canada now owns 1,552 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 490 shares during the period. E Fund Management Co. Ltd. bought a new stake in Albireo Pharma during the first quarter valued at approximately $72,000. SG Americas Securities LLC bought a new stake in Albireo Pharma during the first quarter valued at approximately $116,000. Squarepoint Ops LLC bought a new stake in Albireo Pharma during the first quarter valued at approximately $249,000. Finally, Grimes & Company Inc. purchased a new position in Albireo Pharma during the second quarter valued at approximately $261,000. Institutional investors own 80.85% of the company’s stock.

Shares of ALBO opened at $30.38 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 7.23 and a current ratio of 7.23. Albireo Pharma, Inc. has a fifty-two week low of $27.23 and a fifty-two week high of $43.41. The stock has a market capitalization of $585.00 million, a PE ratio of -4.08 and a beta of 1.46. The company’s fifty day moving average is $30.22 and its 200 day moving average is $32.27.

Albireo Pharma (NASDAQ:ALBO) last posted its quarterly earnings data on Wednesday, August 4th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.92) by $0.02. Albireo Pharma had a negative net margin of 1,468.41% and a negative return on equity of 82.94%. The business had revenue of $2.43 million for the quarter, compared to analysts’ expectations of $2.60 million. As a group, research analysts forecast that Albireo Pharma, Inc. will post -6.13 earnings per share for the current year.

Several brokerages have weighed in on ALBO. HC Wainwright reaffirmed a “buy” rating and set a $79.00 price target on shares of Albireo Pharma in a report on Wednesday, September 8th. Robert W. Baird boosted their target price on shares of Albireo Pharma from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, July 22nd. Wedbush boosted their target price on shares of Albireo Pharma from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, September 16th. Finally, Zacks Investment Research downgraded shares of Albireo Pharma from a “hold” rating to a “sell” rating in a report on Wednesday, September 15th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $79.60.

Albireo Pharma Profile

Albireo Pharma, Inc is a clinical stage biopharmaceutical company, which engages in the development and commercialization of novel bile acid modulators for the treatment of orphan pediatric liver diseases and gastrointestinal disorders. Its pipeline products include Odevixibat, A3384, and Elobixibat.

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

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