Aradigm Corporation (ARDM) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on September 23. At the lunch break, shares of ARDM have clocked gains of 3.52% to $6.47 after closing the day prior at $6.25. In the first two and a half hours of trading, the stock has gone as high as $6.5 and as low as $6.14. Today’s rise has come with about 12,418 shares changing hands, compared to an average 30-day volume of 12,701 for Aradigm Corporation. The price is currently below the 30-day volume weighted average price of $6.35 for ARDM.
The share appreciation gives the company a market capitalization of $93.4 million based upon 14.94 million shares outstanding. It also means that ARDM has a price-to-book ratio of 6.01:1.
In the past 52 weeks, shares of ARDM have traded as low as $2.6 and as high as $7.65. Technical traders will take note that at $6.47, shares of ARDM are trading above their 200-day MA at $4.18 and above their 50-day MA at $4.7. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is ARDM?
Aradigm Corp is a specialty pharmaceutical company. The Company is engaged in the development and commercialization of drugs delivered by inhalation for the prevention and treatment of severe respiratory diseases. The company’s 23 employees are led by CEO Igor Gonda from the corporate headquarters at 3929 Point Eden Way in Hayward, CA.
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