California Public Employees Retirement System decreased its position in Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,500 shares of the biopharmaceutical company’s stock after selling 2,900 shares during the period. California Public Employees Retirement System’s holdings in Alder BioPharmaceuticals were worth $1,383,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. AXA raised its position in Alder BioPharmaceuticals by 28.7% in the first quarter. AXA now owns 343,193 shares of the biopharmaceutical company’s stock worth $7,138,000 after buying an additional 76,435 shares during the period. Eagle Asset Management Inc. raised its position in Alder BioPharmaceuticals by 3.2% in the first quarter. Eagle Asset Management Inc. now owns 1,155,265 shares of the biopharmaceutical company’s stock worth $24,029,000 after buying an additional 35,726 shares during the period. American Century Companies Inc. raised its position in Alder BioPharmaceuticals by 5.7% in the first quarter. American Century Companies Inc. now owns 70,486 shares of the biopharmaceutical company’s stock worth $1,466,000 after buying an additional 3,815 shares during the period. Pictet Asset Management Ltd. raised its position in Alder BioPharmaceuticals by 69.7% in the first quarter. Pictet Asset Management Ltd. now owns 611,706 shares of the biopharmaceutical company’s stock worth $12,724,000 after buying an additional 251,249 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Alder BioPharmaceuticals by 145.2% in the first quarter. Russell Investments Group Ltd. now owns 39,579 shares of the biopharmaceutical company’s stock worth $823,000 after buying an additional 23,437 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) opened at 9.55 on Monday. Alder BioPharmaceuticals, Inc. has a 52 week low of $9.35 and a 52 week high of $36.48. The stock has a 50 day moving average price of $13.55 and a 200 day moving average price of $18.85. The firm’s market cap is $481.42 million.

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ALDR has been the topic of a number of recent research reports. Zacks Investment Research raised Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Tuesday, July 11th. Credit Suisse Group lowered Alder BioPharmaceuticals from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $30.00 to $17.00 in a research note on Wednesday, June 28th. Needham & Company LLC initiated coverage on Alder BioPharmaceuticals in a research note on Monday, May 15th. They set a “buy” rating and a $36.00 price objective on the stock. Wells Fargo & Company reissued an “outperform” rating and set a $51.00 price objective on shares of Alder BioPharmaceuticals in a research note on Wednesday, June 28th. Finally, ValuEngine lowered Alder BioPharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 29th. Two analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. Alder BioPharmaceuticals currently has a consensus rating of “Buy” and an average target price of $35.00.

In other Alder BioPharmaceuticals news, Director Stephen M. Dow acquired 25,000 shares of the stock in a transaction dated Tuesday, July 18th. The stock was acquired at an average price of $10.00 per share, with a total value of $250,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.60% of the stock is owned by insiders.

About Alder BioPharmaceuticals

Alder BioPharmaceuticals, Inc, is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize genetically engineered therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder’s lead pivotal-stage product candidate, eptinezumab, is being evaluated for migraine prevention.

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Institutional Ownership by Quarter for Alder BioPharmaceuticals (NASDAQ:ALDR)

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