diaDexus Pulses to a New Annual High (DDXS)

Trading flowed green today for shares of diaDexus (OTC: DDXS) as the stock touched a new 52-week high in narrow trading. The price range for the stock today was only a nickel with a low of $0.41, and a high of $0.46. The nearly 1.5 million shares traded today was the second heaviest volume day in the last 12 months. On some days, the number of shares exchanging hands will barely reach above 1000.

The stocked opened $0.03 below Thursday’s closing price on negligible volume, and remained pretty much dormant until two hours to go in the trading week. The next-to-last hour saw the stock pop by $0.05, where it stayed when the closing bell rang. The gain for Friday was $0.02. Almost the entire day’s volume traded in the last two hours. Furthermore, all the shares traded occurred in just 13 separate transactions. The action today resembles the trading characteristic history for diaDexus. It appears the stock is not for the faint of heart, as price swings on little volume seems to be common.

At the beginning of the year, the stock hit its annual low with a print of $0.09. Since January, shares of diaDexus have steadily marched toward the high water mark it established today.

The company, headquartered in San Francisco, develops and commercializes diagnostic products for cardiovascular disease. Its PLAC ELISA Test for Lp-PLA2 is the only blood test cleared by the FDA to help assess risk associated with heart disease and strokes.

On May 8, 2012: diaDexus reported first quarter 2012 results. The company showed a 49% increases in revenues over the first quarter of 2011 due to increased sales of its PLAC ELISA test. The net financial result for the first quarter was a loss of $1.3 million. Brian Ward, the CEO of diaDexus, said the results reflect a growing acceptance by physicians in the use of the PLAC ELISA test. The company also reaffirmed its projected revenues of $20 million to $21 million for fiscal year 2012.  No research analysts currently cover the stock.

Insiders have been relatively quiet in transacting their stock. Over the last year, insiders registered three sales totaling 198,000 shares and no buy orders.

Other recent headlines from Stockpromoters.com include:

  • April 26, 2012: The American Association of Endocrinologists includes the Lp-PLA2 marker in accessing risk for coronary heart disease.  The announcement sent diaDexus stock higher.

The company has several competitors in the diagnostic product area that have stocks listed on the big board. The names include Sanofli Ads (NYSE:SNY), Cel-Sci Corp (NYSE:CVM), and Emergent Biosolution (NYSE: EBS).

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Published by Alan Masterson

Alan has over 25 years of trading experience in the U.S. equity markets. He began his career in finance working on a program trading desk specializing in over-the-counter stocks. His career progressed from that point to his current position as senior trader on an institutional trading desk. In the evenings, Alan teaches economics at a local community college. He has contributed articles to various publications over the last six years, including feature articles for an economics magazine and various financial blogs. You may contact Alan via his email (alanmasterson@wallstreetpr.com) or his Google+ page (https://plus.google.com/103338576216002376250).