ProShare Advisors LLC lessened its position in Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) by 7.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,045 shares of the biopharmaceutical company’s stock after selling 2,251 shares during the period. ProShare Advisors LLC owned approximately 0.06% of Alder BioPharmaceuticals worth $344,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALDR. Russell Investments Group Ltd. raised its stake in shares of Alder BioPharmaceuticals by 145.2% in the 1st 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 in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Alder BioPharmaceuticals by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 210,401 shares of the biopharmaceutical company’s stock worth $4,377,000 after buying an additional 9,218 shares in the last quarter. Swiss National Bank raised its stake in shares of Alder BioPharmaceuticals by 2.6% in the 1st quarter. Swiss National Bank now owns 66,342 shares of the biopharmaceutical company’s stock worth $1,380,000 after buying an additional 1,700 shares in the last quarter. Sei Investments Co. raised its stake in shares of Alder BioPharmaceuticals by 2,297.8% in the 1st quarter. Sei Investments Co. now owns 25,584 shares of the biopharmaceutical company’s stock worth $532,000 after buying an additional 24,517 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Alder BioPharmaceuticals by 19.0% in the 1st quarter. Prudential Financial Inc. now owns 140,890 shares of the biopharmaceutical company’s stock worth $2,931,000 after buying an additional 22,500 shares in the last quarter. 76.16% of the stock is currently owned by institutional investors.

Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) opened at 12.45 on Tuesday. The firm’s market capitalization is $843.03 million. Alder BioPharmaceuticals, Inc. has a one year low of $8.60 and a one year high of $34.30. The company has a 50 day moving average price of $10.55 and a 200-day moving average price of $14.67.

Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.67) by $0.19. The company had revenue of $0.68 million during the quarter. The firm’s revenue for the quarter was up 518.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.79) earnings per share. On average, equities analysts predict that Alder BioPharmaceuticals, Inc. will post ($5.60) EPS for the current year.

In related news, Director Stephen M. Dow purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were bought at an average price of $10.00 per share, with a total value of $250,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.60% of the company’s stock.

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A number of analysts have recently commented on ALDR shares. Leerink Swann reissued an “outperform” rating and issued a $32.00 price objective on shares of Alder BioPharmaceuticals in a research note on Monday, June 12th. ValuEngine raised Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 20th. Credit Suisse Group downgraded Alder BioPharmaceuticals from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $30.00 to $17.00 in a research note on Wednesday, June 28th. Piper Jaffray Companies reissued an “overweight” rating and issued a $47.00 price objective on shares of Alder BioPharmaceuticals in a research note on Wednesday, June 28th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $51.00 price objective on shares of Alder BioPharmaceuticals in a research note on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.69.

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.

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

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