David W. Gryska Sells 150,000 Shares of PDL BioPharma, Inc. (NASDAQ:PDLI) Stock

PDL BioPharma, Inc. (NASDAQ:PDLI) Director David W. Gryska sold 150,000 shares of PDL BioPharma stock in a transaction that occurred on Wednesday, November 18th. The stock was sold at an average price of $2.40, for a total value of $360,000.00. Following the completion of the transaction, the director now directly owns 145,337 shares in the company, valued at $348,808.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

PDLI opened at $2.45 on Friday. The stock has a market cap of $279.86 million, a PE ratio of -1.84 and a beta of 0.88. The company has a current ratio of 13.68, a quick ratio of 13.33 and a debt-to-equity ratio of 0.03. PDL BioPharma, Inc. has a 1 year low of $2.09 and a 1 year high of $3.86. The stock’s 50 day simple moving average is $2.34 and its 200-day simple moving average is $2.99.

Several research analysts have commented on the company. BidaskClub downgraded PDL BioPharma from a “hold” rating to a “sell” rating in a research report on Wednesday, October 14th. TheStreet downgraded PDL BioPharma from a “c-” rating to a “d+” rating in a research report on Wednesday, October 7th. ValuEngine downgraded PDL BioPharma from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 6th. Finally, Zacks Investment Research downgraded PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Friday, September 18th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $3.50.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in shares of PDL BioPharma by 725.6% during the second quarter. Bank of Montreal Can now owns 12,499 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 10,985 shares during the period. Archetype Wealth Partners LLC acquired a new stake in PDL BioPharma in the 2nd quarter valued at $37,000. Nisa Investment Advisors LLC acquired a new stake in PDL BioPharma in the 3rd quarter valued at $41,000. XTX Markets LLC acquired a new stake in PDL BioPharma in the 2nd quarter valued at $43,000. Finally, ProShare Advisors LLC boosted its stake in PDL BioPharma by 52.7% in the 2nd quarter. ProShare Advisors LLC now owns 34,072 shares of the biotechnology company’s stock valued at $99,000 after buying an additional 11,765 shares in the last quarter. Institutional investors and hedge funds own 83.88% of the company’s stock.

About PDL BioPharma

PDL BioPharma, Inc manages various patents in the United States and internationally. The company's patents cover humanization of antibodies. It also offers notes and other long-term receivables services, as well as engages in the equity investment activities. The company was formerly known as Protein Design Labs, Inc and changed its name to PDL BioPharma, Inc in 2006.

See Also: Earnings Per Share (EPS)

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