Price Action Report: Aradigm Corporation Sets Yearly Low; Strong Momentum for Sellers

Price Action Report: Aradigm Corporation Sets Yearly Low; Strong Momentum for Sellers

The stock of Aradigm Corporation (NASDAQ:ARDM) hit a new 52-week low and has $2.35 target or 7.00% below today’s $2.53 share price. The 7 months bearish chart indicates high risk for the $38.12 million company. The 1-year low was reported on Dec, 1 by Barchart.com. If the $2.35 price target is reached, the company will be worth $2.67M 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 496,602 shares traded hands or 2216.46% up from the average. Aradigm Corporation (NASDAQ:ARDM) has risen 9.85% since April 28, 2016 and is uptrending. It has outperformed by 3.93% the S&P500.

Analysts await Aradigm Corporation (NASDAQ:ARDM) to report earnings on March, 21.

According to Zacks Investment Research, “Aradigm Corp. is a leading developer of advanced pulmonary drug delivery systems for the treatment of systemic conditions as well as lung diseases. Their hand-held AERx platform is being designed for the rapid and reproducible delivery of a wide range of pharmaceutical drugs and biotech compounds via the lung.”

Insitutional Activity: The institutional sentiment decreased to 0.8 in Q2 2016. Its down 0.45, from 1.25 in 2016Q1. The ratio worsened, as 3 funds sold all Aradigm Corporation shares owned while 1 reduced positions. 3 funds bought stakes while 2 increased positions. They now own 5.45 million shares or 0.52% less from 5.48 million shares in 2016Q1.
Ladenburg Thalmann Services last reported 2 shares in the company. Goldman Sachs Grp has invested 0% of its portfolio in Aradigm Corporation (NASDAQ:ARDM). Fmr Ltd Liability reported 168,740 shares or 0% of all its holdings. Livingston Gp Asset Management Company (Operating As Southport Management) has 1,000 shares for 0% of their US portfolio. Evercore Wealth Mgmt Ltd Company holds 2 shares or 0% of its portfolio. Moreover, Blackrock Fund has 0% invested in Aradigm Corporation (NASDAQ:ARDM) for 1,934 shares. Jacobs Levy Equity Inc has invested 0% of its portfolio in Aradigm Corporation (NASDAQ:ARDM). The New Jersey-based Blackrock Inv Management Limited has invested 0% in Aradigm Corporation (NASDAQ:ARDM). Moreover, Focused Wealth Mgmt has 0% invested in Aradigm Corporation (NASDAQ:ARDM) for 2 shares. Great Point Partners Ltd accumulated 1.26% or 1.00 million shares. Commercial Bank Of America Corporation De holds 0% of its portfolio in Aradigm Corporation (NASDAQ:ARDM) for 28 shares. Point72 Asset Management Ltd Partnership holds 320,585 shares or 0.01% of its portfolio. Acadian Asset Mngmt Ltd Liability Company accumulated 1,584 shares or 0% of the stock. Tower Research Cap Ltd Llc (Trc) reported 747 shares or 0% of all its holdings. Deutsche Fincl Bank Ag last reported 0% of its portfolio in the stock.

Insider Transactions: Since October 4, 2016, the stock had 0 insider buys, and 1 sale for $2,859 net activity. $2,859 worth of Aradigm Corporation (NASDAQ:ARDM) was sold by Froehlich Juergen Kurt.

More important recent Aradigm Corporation (NASDAQ:ARDM) news were published by: Streetinsider.com which released: “Aradigm Corp. (ARDM) Announces Mixed Results from Two Pulmaquin Phase 3s in …” on December 01, 2016, also Marketwatch.com published article titled: “Aradigm Corp. NASDAQ: ARDM”, Businesswire.com published: “Aradigm Corporation Announces First Closing of Private Placement Offering of …” on April 26, 2016. More interesting news about Aradigm Corporation (NASDAQ:ARDM) was released by: Seekingalpha.com and their article: “6 Reasons Aradigm Corporation Is An Excellent Risk Vs. Reward Opportunity” with publication date: August 08, 2014.

ARDM Company Profile

Aradigm Corporation, incorporated on January 30, 1991, is a specialty pharmaceutical firm focused on the development and commercialization of products for the treatment and prevention of severe respiratory diseases. It is focused on commercializing its products in the United States, European Union (EU), Japan and China. The Company’s lead product candidate is Pulmaquin inhaled ciprofloxacin, which is in Phase III clinical trials. The Firm offers AERx pulmonary drug delivery platform and other technologies. The Company’s partnered programs under development include Inhaled Ciprofloxacin. The Firm is also engaged in developing Smoking Cessation Therapy (ARD-1600 Inhaled Nicotine). The Firm is focused on inhaled nicotine product utilizing its AERx delivery system that is focused on addressing the acute craving for cigarettes and, through gradual reduction of the peak nicotine levels, could wean-off patients from cigarette smoking and from the nicotine addiction.

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