The stock of pSivida Corp. (NASDAQ:PSDV) hit a new 52-week low and has $1.92 target or 14.00% below today’s $2.23 share price. The 7 months bearish chart indicates high risk for the $74.92M company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $1.92 price target is reached, the company will be worth $10.49 million 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 66,573 shares traded hands. pSivida Corp. (NASDAQ:PSDV) has declined 18.66% since March 14, 2016 and is downtrending. It has underperformed by 24.27% 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 Q2 2016. Its down 0.08, from 0.81 in 2016Q1. The ratio dived, 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.
Morgan Stanley owns 274,233 shares or 0% of their US portfolio. Perceptive Advisors Ltd Llc has 0.52% invested in the company for 2.67 million shares. Wells Fargo & Communication Mn has 1,000 shares for 0% of their US portfolio. Lombard Odier Asset Mgmt (Usa) last reported 615,596 shares in the company. Fisher Asset Limited Liability Corp last reported 0% of its portfolio in the stock. California Employees Retirement Systems owns 64,900 shares or 0% of their US portfolio. Deerfield Co accumulated 0.17% or 1.49 million shares. Goldman Sachs Group holds 0% of its portfolio in pSivida Corp. (NASDAQ:PSDV) for 20,290 shares. Geode Capital Mgmt Ltd Liability Com holds 0% or 141,663 shares in its portfolio. Springbok Limited Com last reported 100 shares in the company. Blackrock Management Limited Company last reported 0% of its portfolio in the stock. Acadian Asset Mngmt Ltd Liability Co has 0% invested in the company for 41,798 shares. Gsa Prns Llp holds 155,261 shares or 0.02% of its portfolio. Financial Bank Of America Corp De has 5,099 shares for 0% of their US portfolio. Finemark National Bank Tru has 71,800 shares for 0.02% of their US portfolio.
More notable recent pSivida Corp. (NASDAQ:PSDV) news were published by: Globenewswire.com which released: “pSivida Corp. Announces Fourth Quarter and Fiscal Year 2016 Financial Results …” on September 01, 2016, also Globenewswire.com with their article: “pSivida Corp. Strengthens Board of Directors With Leading Ophthalmologist” published on September 27, 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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