Virginia Retirement Systems ET AL acquired a new position in PDL BioPharma Inc. (NASDAQ:PDLI) during the second quarter, Holdings Channel reports. The firm acquired 52,400 shares of the company’s stock, valued at approximately $165,000.
Several other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in PDL BioPharma by 23.0% in the first quarter. Renaissance Technologies LLC now owns 12,724,354 shares of the company’s stock worth $42,372,000 after buying an additional 2,378,795 shares in the last quarter. Vanguard Group Inc. raised its position in shares of PDL BioPharma by 5.2% in the second quarter. Vanguard Group Inc. now owns 11,399,443 shares of the company’s stock valued at $35,794,000 after buying an additional 561,405 shares during the period. Acadian Asset Management LLC raised its position in shares of PDL BioPharma by 2.6% in the second quarter. Acadian Asset Management LLC now owns 6,235,824 shares of the company’s stock valued at $19,578,000 after buying an additional 156,534 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of PDL BioPharma by 5.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,922,887 shares of the company’s stock valued at $16,393,000 after buying an additional 238,586 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of PDL BioPharma by 12.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,679,215 shares of the company’s stock valued at $11,553,000 after buying an additional 400,826 shares during the period. 75.21% of the stock is currently owned by institutional investors.
PDL BioPharma Inc. (NASDAQ:PDLI) opened at 3.24 on Thursday. The firm has a market capitalization of $536.35 million, a price-to-earnings ratio of 2.30 and a beta of 0.71. The stock’s 50 day moving average price is $3.16 and its 200-day moving average price is $3.25. PDL BioPharma Inc. has a 12 month low of $2.58 and a 12 month high of $4.91.
PDL BioPharma (NASDAQ:PDLI) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $21 million for the quarter, compared to analyst estimates of $33.46 million. PDL BioPharma had a return on equity of 38.94% and a net margin of 53.90%. The company’s revenue was down 84.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 EPS. Equities analysts anticipate that PDL BioPharma Inc. will post $0.51 EPS for the current fiscal year.
PDLI has been the topic of several recent analyst reports. Zacks Investment Research raised PDL BioPharma from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Cowen and Company reissued a “hold” rating and issued a $3.50 price target on shares of PDL BioPharma in a research note on Sunday, August 7th.
In other news, VP Peter S. Garcia acquired 10,000 shares of PDL BioPharma stock in a transaction dated Tuesday, August 9th. The shares were purchased at an average cost of $3.00 per share, for a total transaction of $30,000.00. Following the transaction, the vice president now owns 232,092 shares of the company’s stock, valued at $696,276. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
PDL BioPharma Company Profile
PDL BioPharma, Inc, formerly Protein Design Labs, 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.
Want to see what other hedge funds are holding PDLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDL BioPharma Inc. (NASDAQ:PDLI).
Receive News & Ratings for PDL BioPharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDL BioPharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.