Biodel Inc. (NASDAQ:ALBO) major shareholder Plc Astrazeneca sold 500,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $21.40, for a total value of $10,700,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of Biodel Inc. (NASDAQ:ALBO) traded up $0.86 during trading hours on Tuesday, reaching $25.25. The company’s stock had a trading volume of 100,200 shares, compared to its average volume of 26,416. Biodel Inc. has a 12 month low of $15.31 and a 12 month high of $29.20.

A hedge fund recently raised its stake in Biodel stock. Renaissance Technologies LLC increased its stake in Biodel Inc. (NASDAQ:ALBO) by 0.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,632 shares of the biopharmaceutical company’s stock after buying an additional 794 shares during the quarter. Renaissance Technologies LLC’s holdings in Biodel were worth $3,591,000 as of its most recent filing with the SEC. 29.22% of the stock is currently owned by hedge funds and other institutional investors.

ALBO has been the topic of several recent research reports. Roth Capital initiated coverage on Biodel in a research report on Wednesday, November 15th. They issued a “buy” rating and a $92.00 price objective on the stock. Zacks Investment Research upgraded Biodel from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Wednesday, October 25th. Wedbush restated an “outperform” rating and issued a $58.00 price objective on shares of Biodel in a research report on Monday, September 11th. ValuEngine downgraded Biodel from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Biodel in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Biodel presently has an average rating of “Buy” and an average target price of $53.75.

ILLEGAL ACTIVITY WARNING: This news story was originally published by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/05/biodel-inc-albo-major-shareholder-sells-10700000-00-in-stock.html.

About Biodel

Biodel Inc is a specialty biopharmaceutical company. The Company focuses on the development and commercialization of treatments for diabetes. The Company is engaged in developing product candidates by applying its formulation technologies to existing drugs. The Company is engaged in developing room temperature stable glucagon presentations for use as a rescue treatment for diabetes patients experiencing severe hypoglycemia.

Receive News & Ratings for Biodel Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biodel Inc. and related companies with MarketBeat.com's FREE daily email newsletter.