PDL BioPharma (NASDAQ:PDLI) has tumbled 1.9% during the past week and has dropped 2.52% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.73%. PDL BioPharma (NASDAQ:PDLI) has underperformed the index by 3.41% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
PDL BioPharma (NASDAQ:PDLI): The stock opened at $3.11 on Friday but the bulls could not build on the opening and the stock topped out at $3.18 for the day. The stock traded down to $3.07 during the day, due to lack of any buying support eventually closed down at $3.09 with a loss of -0.96% for the day. The stock had closed at $3.12 on the previous day. The total traded volume was 1,996,174 shares.
The company shares have dropped -53.18% from its 1 Year high price. On Jun 23, 2015, the shares registered one year high at $6.75 and the one year low was seen on Feb 3, 2016. The 50-Day Moving Average price is $3.28 and the 200 Day Moving Average price is recorded at $3.31.
On the companys insider trading activities, Garcia Peter S, CFO of Pdl Biopharma, Inc., executed a transaction worth $52,950 on December 14, 2015. A total of 15,000 shares were purchased at an average price of $3.53. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Currently the company Insiders own 1.1% of PDL BioPharma shares according to the proxy statements. Institutional Investors own 76.85% of PDL BioPharma shares.
PDL BioPharma, Inc., manages a portfolio of patents and royalty assets, consisting of its Queen et al. patents, license agreements with various biotechnology and pharmaceutical companies, and royalty and other assets acquired. The Company provides non-dilutive growth capital and financing solutions to late-stage public and private healthcare companies and offers immediate financial monetization of royalty streams to companies, academic institutions, and inventors. It is focused on intellectual property asset management, acquiring new income generating assets and maximizing value for its stockholders. The Company receives royalties on a number of marketed products that use its technology and it has liscensed a number of humanized antibody products in late-stage clinical trials. As of December 31, 2014, the Company received royalties on sales of the ten humanized antibody products, which include Avastin, Herceptin, Xolair, Lucentis, Perjeta, Kadcyla, Tysabri, Actemra, Gazyva and Entyvio.