Jane Street Group LLC purchased a new position in PDL Biopharma (NASDAQ:PDLI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 51,972 shares of the biotechnology company’s stock, valued at approximately $142,000.
Other large investors have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC grew its stake in PDL Biopharma by 64.0% in the third quarter. Cubist Systematic Strategies LLC now owns 49,062 shares of the biotechnology company’s stock worth $166,000 after purchasing an additional 19,144 shares in the last quarter. Spark Investment Management LLC acquired a new position in PDL Biopharma in the fourth quarter worth about $142,000. Teacher Retirement System of Texas grew its stake in PDL Biopharma by 312.9% in the fourth quarter. Teacher Retirement System of Texas now owns 52,122 shares of the biotechnology company’s stock worth $143,000 after purchasing an additional 39,499 shares in the last quarter. Paloma Partners Management Co grew its stake in PDL Biopharma by 151.6% in the fourth quarter. Paloma Partners Management Co now owns 78,394 shares of the biotechnology company’s stock worth $215,000 after purchasing an additional 47,239 shares in the last quarter. Finally, BTC Capital Management Inc. acquired a new position in PDL Biopharma in the fourth quarter worth about $252,000. Institutional investors and hedge funds own 91.40% of the company’s stock.
Shares of NASDAQ PDLI opened at $2.90 on Monday. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 0.14. PDL Biopharma has a 52-week low of $2.01 and a 52-week high of $3.55. The stock has a market capitalization of $446.05, a price-to-earnings ratio of 4.60 and a beta of 0.37.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of PDL Biopharma from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a report on Wednesday, March 14th. BidaskClub raised shares of PDL Biopharma from a “sell” rating to a “hold” rating in a report on Friday, April 6th. Finally, TheStreet raised shares of PDL Biopharma from a “d+” rating to a “c-” rating in a report on Friday, March 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $3.50.
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About PDL Biopharma
PDL BioPharma, Inc acquires and manages companies, products, royalty agreements, and debt facilities in the biotechnology, pharmaceutical, and medical device industries in the United States, Europe, and internationally. The company operates in three segments: Income Generating Assets, Pharmaceutical, and Medical Devices.
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