Bank of New York Mellon Corp boosted its stake in shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) by 4.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,401 shares of the biopharmaceutical company’s stock after buying an additional 9,218 shares during the period. Bank of New York Mellon Corp owned about 0.42% of Alder BioPharmaceuticals worth $4,377,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can raised its position in shares of Alder BioPharmaceuticals by 3,047.2% in the first quarter. Bank of Montreal Can now owns 5,602 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 5,424 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Alder BioPharmaceuticals during the fourth quarter worth $334,000. State Board of Administration of Florida Retirement System raised its position in shares of Alder BioPharmaceuticals by 0.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 21,965 shares of the biopharmaceutical company’s stock worth $457,000 after buying an additional 160 shares during the last quarter. American Century Companies Inc. raised its position in shares of 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 last quarter. Finally, Teachers Advisors LLC raised its position in shares of Alder BioPharmaceuticals by 1.5% in the fourth quarter. Teachers Advisors LLC now owns 76,809 shares of the biopharmaceutical company’s stock worth $1,598,000 after buying an additional 1,171 shares during the last quarter. 81.18% of the stock is owned by institutional investors.

Shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) traded down 4.55% during midday trading on Friday, reaching $9.45. 2,276,151 shares of the company’s stock traded hands. Alder BioPharmaceuticals, Inc. has a 12 month low of $9.40 and a 12 month high of $36.48. The stock has a 50 day moving average of $13.55 and a 200-day moving average of $18.85. The stock’s market cap is $476.37 million.

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

In other Alder BioPharmaceuticals news, Director Stephen M. Dow acquired 25,000 shares of Alder BioPharmaceuticals stock in a transaction dated Tuesday, July 18th. The stock was purchased at an average cost of $10.00 per share, for a total transaction of $250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.60% of the stock is owned by company 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.

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

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