PDL BioPharma June 15th Short Interest Update

PDL BioPharma (NASDAQ:PDLI) reported a rise of 1.8% or 216,549 shares in its short interest. The short figure came in at 8.1% of the total floats. The average daily volume of 1,444,741 shares suggests that the days to cover 12,530,027 short positions, as on June 15,2016, will be 9. On May 31,2016, the short interest was 12,313,478 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

PDL BioPharma (NASDAQ:PDLI): The stock opened at $2.99 on Friday but the bulls could not build on the opening and the stock topped out at $3.08 for the day. The stock traded down to $2.99 during the day, due to lack of any buying support eventually closed down at $3.07 with a loss of -2.23% for the day. The stock had closed at $3.14 on the previous day. The total traded volume was 2,320,112 shares.

The company shares have dropped -51.73% from its 1 Year high price. On Jul 16, 2015, the shares registered one year high at $6.63 and the one year low was seen on Feb 3, 2016. The 50-Day Moving Average price is $3.22 and the 200 Day Moving Average price is recorded at $3.29.

PDL BioPharma (NASDAQ:PDLI) has tumbled 0.65% during the past week and has dropped 8.08% in the last 4 week period. The company has outperformed the S&P 500 by 1% in the past week but underperformed the index by 5.3% in the last 4 weeks.

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.

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