Albireo Pharma Inc (NASDAQ:ALBO) Sees Large Growth in Short Interest

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Albireo Pharma Inc (NASDAQ:ALBO) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 753,800 shares, a growth of 17.6% from the August 30th total of 640,800 shares. Approximately 7.7% of the company’s shares are short sold. Based on an average daily trading volume, of 55,600 shares, the short-interest ratio is presently 13.6 days.

Several institutional investors have recently bought and sold shares of the company. Private Advisors LLC raised its stake in shares of Albireo Pharma by 3.4% during the first quarter. Private Advisors LLC now owns 15,198 shares of the biopharmaceutical company’s stock valued at $490,000 after acquiring an additional 506 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Albireo Pharma by 27.6% during the second quarter. JPMorgan Chase & Co. now owns 2,836 shares of the biopharmaceutical company’s stock valued at $90,000 after acquiring an additional 614 shares in the last quarter. Hartwell J M Limited Partnership raised its stake in Albireo Pharma by 8.8% in the second quarter. Hartwell J M Limited Partnership now owns 15,500 shares of the biopharmaceutical company’s stock worth $500,000 after buying an additional 1,250 shares in the last quarter. Aperio Group LLC bought a new position in Albireo Pharma in the second quarter worth approximately $42,000. Finally, Meeder Asset Management Inc. raised its stake in Albireo Pharma by 796.5% in the second quarter. Meeder Asset Management Inc. now owns 2,026 shares of the biopharmaceutical company’s stock worth $65,000 after buying an additional 1,800 shares in the last quarter. 73.06% of the stock is owned by hedge funds and other institutional investors.

ALBO has been the subject of several recent analyst reports. William Blair restated a “buy” rating on shares of Albireo Pharma in a research report on Monday, July 15th. HC Wainwright restated a “buy” rating and set a $62.00 target price on shares of Albireo Pharma in a research report on Sunday, August 11th. Wedbush restated an “outperform” rating and set a $69.00 target price on shares of Albireo Pharma in a research report on Friday, August 9th. Zacks Investment Research downgraded shares of Albireo Pharma from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Finally, BidaskClub downgraded shares of Albireo Pharma from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $51.50.

Albireo Pharma stock opened at $16.92 on Tuesday. The company has a 50 day moving average price of $22.35 and a 200-day moving average price of $28.89. Albireo Pharma has a fifty-two week low of $16.13 and a fifty-two week high of $38.69. The company has a market capitalization of $214.63 million, a PE ratio of -4.29 and a beta of 1.46.

Albireo Pharma (NASDAQ:ALBO) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.44) by $0.09. Albireo Pharma had a negative net margin of 2,403.88% and a negative return on equity of 51.74%. The firm had revenue of $1.25 million during the quarter, compared to the consensus estimate of $1.11 million. As a group, research analysts expect that Albireo Pharma will post -5.91 earnings per share for the current year.

About Albireo Pharma

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 is 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.

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