I call #$%$ on this one! If you have an average price of 7 3/4, this stock hasn't see that price since about 2007.... Which means you have purchased 20,115 shares in 35 trades and averaged out to 7 3/4 but you haven't purchased a share since well before the end of 2007! Why so aggressive 6 years ago and then then all of a sudden just stop buying on the way up???? I'm not buying it!!
The clock keeps ticking and the price decreases and edges up. Long term patience will still prevail. One can be a trader but I'll take the low blood pressure route and let time feed the growth.
This is the sector to be in. SGEN should take off this week!!
It was ARIA that I was referring to. Seems like when SGEN goes up, then when it has a low volume day that's a sign the next day the stock goes down, sometimes for more than one day. Maybe it's just consolidating from the big gains from earlier this year. Time will tell. Would be nice to see 50 by year end. Best, Timmo
Think your right, not enough options really to move us to max pain, ohter than the pychological effect it might have. I follow RGEN and IMGN and both similar shaped drops in the morning, albeit different %s with SGEN hit harder.
Other stocks I don't follow VRTX down in morning but bounced back. And ARIA which I think you are referring to gapped down again. Someone mentioned this the other day when it gapped down as taking some biotechs with it.
Another ADC biotech announced it will quit developing it's drug due to severe side effects. The market is probably correcting SGEN in sympathy. We should be fine. They keep running this one up and down. Hopefully it will settle down and rise soon. Best, Timmo
...this comes today from a HL message board: "Folks. PET just came clear. 1.5 years jn remission and going strong! All thanks to SGN35/Adcetris/brentuximab. Thank God! Fellow hodgers, stay strong and keep fighting. Don't ever lose hope!"
I've been long ARIA for some time now and don't see the recent FDA move as a silver bullet. Too much going for them in the long run.
I really think ARIA and SGEN are competing drug delivery technologies. Aria doesn't license ADC tech from SGEN. Anybody else have any thoughts on the sympathy price movements of these stocks and others in cancer med?
Jws, before the shutdown several biotechs were growing amazingly more than expected and probably due for a pullback such as SGEN, CLDX, GALE ACAD, etc. ..... so it seemed there was suddenly much more interest in bio techs following the ONYX acquisition. Given the fact that trials news is expected from several of these companies during the next two quarters it will be interesting to see which biotechs distinguish themselves more from the others.
Good luck SGEN longs.