Trading was light with 54K shares changing hands in the last trading session. Trading volume was down 78.96% under the stocks average daily volume.
Investors are a little more bullish on Aradigm Corporation lately if you put credence in the motion in short interest. The firm saw a fall in short interest from September 29, 2017 to October 13, 2017 of -47.92%. Short shares fell 183,206 over that period. Days to cover increased 1.0 to 1.0 and the percentage of shorted shares was 0.01% on October 13.
These firms have modified their investment in ARDM. As of the end of the quarter Boxer Capital, LLC had disposed of 58,500 shares trimming its position 9.2%. The value of the investment in ARDM decreased from $1,016,000 to $893,000 a change of 12.1% quarter over quarter. Vanguard Group Inc reduced its investment by selling 130,643 shares a decrease of 98.1% in the quarter. Vanguard Group Inc claims 2,500 shares with a value of $3,000. The value of the position overall is down by 98.6%.
As of quarter end Blackrock Inc. had bought a total of 508 shares growing its stake by 15.9%. The value of the company’s investment in Aradigm Corporation went from $5,000 to $5,000 decreasing 0.0% quarter to quarter. As of quarter end Ubs Group Ag had sold a total of 658 shares trimming its holdings by 99.7%. The value in dollars decreased from $1,000 to $0 a change of $1,000 for the reporting period.
The company is so far trading down since yesterday’s close of $4.17. Company shares are trading at $4.17 much higher than $3.61, the 50 day moving average and quite a bit above the 200 day moving average of $1.90. The 50 day moving average was up by +15.55% and the 200 day average was up $2.27.
In the last earnings report the EPS was $-1.27 and is estimated to be $-0.74 for the current year with 14,430,000 shares outstanding. Analysts expect next quarter’s EPS will be $-0.25 with next year’s EPS anticipated to be $-0.40.
Aradigm Corporation, launched on January 30, 1991, is a specialty pharmaceutical company 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 Business’s lead product candidate is Pulmaquin inhaled ciprofloxacin, which is in Phase III clinical trials. The Company offers AERx pulmonary drug delivery platform and other technologies. The Business’s partnered programs under development include Inhaled Ciprofloxacin. The Company is also engaged in developing Smoking Cessation Therapy (ARD-1600 Inhaled Nicotine). The Company 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..