The stock of pSivida Corp. (NASDAQ:PSDV) hit a new 52-week low and has $2.07 target or 11.00% below today’s $2.33 share price. The 5 months bearish chart indicates high risk for the $78.47M company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $2.07 price target is reached, the company will be worth $8.63M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 127,902 shares traded hands or 30.82% up from the average. pSivida Corp. (NASDAQ:PSDV) has declined 15.90% since March 10, 2016 and is downtrending. It has underperformed by 23.42% the S&P500.
According to Zacks Investment Research, “pSivida Corp., a specialty pharmaceutical company, combines existing drugs with its sustained release delivery technologies to develop transformational products primarily in ophthalmology. pSivida’s two proprietary technology systems are Durasert and Tethadur. Durasert delivers specific quantities of drugs at controlled rates for predetermined periods of time from weeks to months. pSivida has developed three of the four sustained delivery release devices for retinal diseases that have been approved in either the US or Europe, the most recent being ILUVIENÂ®, partnered with Alimera Sciences and approved in multiple EU countries. Independently, pSivida is developing an injectable, bioerodible product to treat glaucoma and ocular hypertension. Tethadur is a protein, peptide and antibody delivery system.”
Insitutional Activity: The institutional sentiment decreased to 0.73 in 2016 Q2. Its down 0.08, from 0.81 in 2016Q1. The ratio fall, as 6 funds sold all pSivida Corp. shares owned while 9 reduced positions. 4 funds bought stakes while 7 increased positions. They now own 10.25 million shares or 3.57% less from 10.63 million shares in 2016Q1.
Utd Capital Advisers Ltd Llc reported 10,000 shares or 0% of all its holdings. Susquehanna Intll Grp Llp has 10,139 shares for 0% of their US portfolio. Vanguard Gp Incorporated has 0% invested in the company for 953,744 shares. Blackrock Lc accumulated 0% or 5,176 shares. Bard Assoc holds 105,609 shares or 0.16% of its portfolio. Northern holds 50,437 shares or 0% of its portfolio. Perceptive Advsr Ltd last reported 2.67M shares in the company. Lombard Odier Asset Management (Usa) Corp holds 0.21% or 615,596 shares in its portfolio. Royal State Bank Of Canada has 0% invested in the company for 500 shares. Private Advisor Gru Limited reported 22,700 shares or 0% of all its holdings. Tower Rech Cap Limited Liability (Trc), a New York-based fund reported 4,056 shares. California Pub Employees Retirement reported 64,900 shares or 0% of all its holdings. Acadian Asset Mgmt Lc last reported 0% of its portfolio in the stock. Springbok Cap Ltd Liability Corp, a New York-based fund reported 100 shares. Moreover, Blackrock Advsrs Llc has 0% invested in pSivida Corp. (NASDAQ:PSDV) for 6,822 shares.
More notable recent pSivida Corp. (NASDAQ:PSDV) news were published by: Globenewswire.com which released: “pSivida Corp. Strengthens Board of Directors With Leading Ophthalmologist” on September 27, 2016, also Globenewswire.com with their article: “pSivida Corp. Announces Fourth Quarter and Fiscal Year 2016 Financial Results …” published on September 01, 2016, Quotes.Wsj.com published: “News pSivida Corp.PSDV” on February 11, 2011. More interesting news about pSivida Corp. (NASDAQ:PSDV) were released by: Seekingalpha.com and their article: “PSivida Redux: Multiple Opportunities For Value Creation” published on October 04, 2016 as well as Seekingalpha.com‘s news article titled: “PSivida: ~$4 Ocular Concern Is ‘Looking Good'” with publication date: September 10, 2016.
PSDV Company Profile
pSivida Corp., incorporated on March 20, 2008, develops drug delivery products primarily for the treatment of chronic eye diseases. The Firm operates through the biotechnology sector segment. The Firm has developed three products for treatment of back-of-the-eye diseases, which include Medidur for posterior segment uveitis, its lead product candidate that is in pivotal Phase III clinical trials; ILUVIEN for diabetic macular edema (DME), its lead licensed product that is sold in the United States and European Union (EU) countries, and Retisert. The Company’s product development program is focused primarily on utilizing its two core technology platforms, Durasert and Tethadur, to deliver drugs and biologics to treat chronic diseases.
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