Insider Selling: PDL BioPharma, Inc. (NASDAQ:PDLI) Director Sells 20,000 Shares of Stock

PDL BioPharma, Inc. (NASDAQ:PDLI) Director David W. Gryska sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 30th. The shares were sold at an average price of $2.74, for a total value of $54,800.00. Following the transaction, the director now directly owns 1,387 shares of the company’s stock, valued at $3,800.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of PDLI stock opened at $2.47 on Friday. The firm has a market capitalization of $282.14 million, a price-to-earnings ratio of -1.86 and a beta of 0.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 13.68 and a quick ratio of 13.33. PDL BioPharma, Inc. has a 12-month low of $2.09 and a 12-month high of $3.86. The business has a 50 day simple moving average of $2.54 and a 200 day simple moving average of $2.83.

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PDLI has been the subject of a number of recent analyst reports. BidaskClub raised PDL BioPharma from a “hold” rating to a “buy” rating in a report on Wednesday. TheStreet lowered PDL BioPharma from a “c-” rating to a “d+” rating in a report on Wednesday, October 7th. ValuEngine raised PDL BioPharma from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 1st. Finally, Zacks Investment Research lowered PDL BioPharma from a “buy” rating to a “hold” rating in a report on Friday, September 18th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Paloma Partners Management Co acquired a new stake in PDL BioPharma in the third quarter worth approximately $428,000. Silver Point Capital L.P. lifted its position in PDL BioPharma by 31.1% in the third quarter. Silver Point Capital L.P. now owns 6,424,000 shares of the biotechnology company’s stock worth $20,236,000 after purchasing an additional 1,524,000 shares during the period. ExodusPoint Capital Management LP lifted its position in PDL BioPharma by 223.0% in the third quarter. ExodusPoint Capital Management LP now owns 40,158 shares of the biotechnology company’s stock worth $126,000 after purchasing an additional 27,724 shares during the period. JBF Capital Inc. lifted its position in PDL BioPharma by 197.2% in the third quarter. JBF Capital Inc. now owns 150,778 shares of the biotechnology company’s stock worth $475,000 after purchasing an additional 100,053 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in PDL BioPharma by 68.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,293,289 shares of the biotechnology company’s stock worth $4,074,000 after purchasing an additional 524,208 shares during the period. Hedge funds and other institutional investors 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.

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