I too bought but however I wonder when it will go up.... I hold this for quite sometime and bought at 44,32.50... wondering if it goes to 52 week low.... This is the only biotech which is not bouncing back for me :)
Bakers and other investment and brokerage firms often loan their shares to short sellers. So you need to own a lot of shares . My understanding unofficially is that individual firms loan their shares to drive price down in certain situations. The reverse holds true as well they may stop loaning shares to drive price back up. I ll give you 2 examples . 1 SGEN recent good news is released stock goes backwards to 32.00. More shares were likely loaned to lower the price being they wanted to purchase a million shares in the open market. Example 2 company needs cash and will do it through an offering . Xoma good example . Bakers stop loaning their shares in the market . Price slowly creeps up for no apperent reason from below 4 all the way to the high 5's in matter of a few weeks. They can then announce the offering price at 4.90 gaining more cash than offering shares at low 4's. They put the option to buy shares additional shares 1 year later at a higher price of 7.50. This leads market to believe that 7.50 would be a discounted price next year. The price they set for the delayed offering means nothing in my opinion . It is more a phsycological buffer if you ask me. Bakers stocks are very cyclical from what i can see. I have sold in and out of Xoma and Geva several times. I just sold my Geva shares for the second time this year . First time i bought at 79 and i sold at 106 the last time i bought at 70 and sold at 88. I think this run up pre FDA approval will result in the same action we saw on SGEN. It will be announced and the price will already be near or over 100. The market will push it up briefly they will do an offering and then say the sales potential is lower than anticipated driving it back down to 80s again before going back up to 120. SGEN i bought a while ago at 39 and just doubled my position at 32. I havent had much faith in SGEN's phase 3 trials and current drugs . The value is obviously in the PI drugs . I bought because cd33 will be a huge success.
Says high of $34.53. No way, the shares were selling for $33.74 (4) minutes earlier and also 10 min. after the so called $34.53 trade. 79 cents higher just after someone bought at $33.74? Must have been Baker wanting to pay more than the ask again.
Anyone have a clue as to the investment (or otherwise) rationale of the BBs for creating this fbb3 llc vehicle and endowing it with 12678 shares of sgen? Maybe some platform for future strategic share management?
Bought a boatload $42.00-$43.00. Bought another boatload in the 39's. Purchased quite a bit more at today's range. Continues to buy $36.00-39.00 ending with last months purchases $33.71 - $36.75. Someone do the math here at today's closing price and tell me that Baker Felix is up? Now on the other hand, Siegall gets his shares at $3.30-$10.33 selling in the $29.00-$36.00 range. He's the smart one. Oh and by the way; his big speech on the cancer drug drove the price up for a day and it quickly fell back to $33.00. Why is Baker Felix over paying for this stock? What's their mission? I am sure they are selling somewhere along the way, but we won't see any of that. Oh and the saga continues.
M'eh. Not to be cranky but it seems like whenever the stock market is more complicated than an investor thought (a stock goes down instead up up) theories about conspiracies start to fly around. Volume has been pretty normal and it has been on a steady decline. Nothing out the ordinary is going on in options. It just seems like a typical end of the year sell-off. That's not as sexy as a conspiracy about people keeping the price down because the want the stock so badly (which just so happens to validate apparently bad investment decisions), but I think it is more realistic
the bakers are not doing it. remember market makers control tons of shares that they can trade amongst accounts. yet, that's all tea leave stuff. this is a story stock that's going to really move on news. bottom line. best to own shares that your comfortable owning regardless of the daily tape and let it ride . perhaps with a stop below the 52 wk low. just in case we get a bad chapter...
So you are accusing the Bakers of suppressing the stock price? Do you have anything to back that up or is it just Internet fiction?
I get the same feeling from the tape. being held back . its churning in a pretty tight range. the dips are being bought which you can see in the volume. Yet, profits are being taken. people are trading the channel right now and will do so until we breakout of this range. the baker boys buy the other day should put some floor on it. good news will pop this out of the channel and establish a new base. we're heading to 40 plus . patience will be rewarded. I have no problem cost averaging on the dips in the mid 33's. good luck and happy holidays
Read down a few posts. The Bakers, who are on the board, just bought another million or so shares and now own more than 20 percent of the company. They know more than us and they sure as hell know more than the shorts who are attacking today. One day, it will all sort itself out.