Schwab Charles Investment Management Inc. Invests $679,000 in Albireo Pharma Inc (ALBO)

Schwab Charles Investment Management Inc. bought a new stake in Albireo Pharma Inc (NASDAQ:ALBO) in the second quarter, HoldingsChannel reports. The institutional investor bought 19,099 shares of the biopharmaceutical company’s stock, valued at approximately $679,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ALBO. Northern Trust Corp increased its stake in shares of Albireo Pharma by 60.3% in the first quarter. Northern Trust Corp now owns 15,766 shares of the biopharmaceutical company’s stock worth $513,000 after acquiring an additional 5,932 shares during the last quarter. Chicago Capital LLC increased its stake in shares of Albireo Pharma by 48.4% in the second quarter. Chicago Capital LLC now owns 134,748 shares of the biopharmaceutical company’s stock worth $4,784,000 after acquiring an additional 43,917 shares during the last quarter. Alps Advisors Inc. acquired a new position in shares of Albireo Pharma in the second quarter worth $613,000. Bank of New York Mellon Corp increased its stake in shares of Albireo Pharma by 205.0% in the second quarter. Bank of New York Mellon Corp now owns 32,263 shares of the biopharmaceutical company’s stock worth $1,145,000 after acquiring an additional 21,685 shares during the last quarter. Finally, Rhumbline Advisers acquired a new position in shares of Albireo Pharma in the second quarter worth $335,000. Institutional investors own 63.41% of the company’s stock.

NASDAQ ALBO opened at $28.93 on Thursday. Albireo Pharma Inc has a 1-year low of $21.25 and a 1-year high of $39.87. The firm has a market capitalization of $394.53 million, a PE ratio of -9.18 and a beta of 1.45.

Albireo Pharma (NASDAQ:ALBO) last posted its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.98) by ($0.24). The firm had revenue of $0.73 million for the quarter, compared to analyst estimates of $2.00 million. Research analysts predict that Albireo Pharma Inc will post -3.39 EPS for the current fiscal year.

ALBO has been the topic of a number of research reports. BidaskClub downgraded shares of Albireo Pharma from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Wedbush reaffirmed an “outperform” rating on shares of Albireo Pharma in a research note on Monday, July 16th. Zacks Investment Research raised shares of Albireo Pharma from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, July 24th. Finally, Cowen reaffirmed a “buy” rating on shares of Albireo Pharma in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $59.40.

In other Albireo Pharma news, insider Ronald Harold Wilfred Cooper bought 788 shares of the stock in a transaction on Tuesday, August 14th. The shares were purchased at an average cost of $31.85 per share, with a total value of $25,097.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

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.

See Also: Initial Public Offering (IPO)

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

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