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Astex Pharmaceuticals, Inc. Message Board

  • alphaomega8294 alphaomega8294 Apr 25, 2008 9:48 AM Flag

    We on someone's radar?

    Volume's certainly picked up... the 1.66 million shares traded yesterday was almost a weeks worth of activity in one day. Definitely impressive.

    Volume so far this morning seems to indicate large short covering or accumulation...

    FWIW - there's been no recent broker docs other than R&R's dacogen #'s (and their conference summary) for the past 2 weeks or so...

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    • The value on the tape may be the average prive over a few large blocks. If an institution puts in a block order for 500,000 shares the block desk may wind up distributing that to more than one counterparty at slightly different prices.

    • It depends. Generally, as I said, large blocks will be traded out of the open market so your trade will never actually be part of the large block.

      I guess they could post a fractional penny order out there on small-share orders (or the algorithm they're using to trade can), but don't know how common it is.

    • Someone must know something this stock is trading very strange.

      yesterday I had a 1000 share order at 2.35 which filled 100 shares at a time just before a 500,000 order got filled.

      I wonder if my trade set the stage for that fill?

      • 1 Reply to merohricht
      • Mero, doubtful, generally when larger block trades occur (especially on low-liquidity stocks such as SUPG), the blocks are negotiated outside of the market and then put on the tape... those blocks had to have been traded outside the market, I can pretty much guarantee that, otherwise SUPG would have whipsawed pretty hard when they went through (trading what is the ADV at one time generally has that effect:)).

        That there were 2 larger blocks traded on the same day after little activity for 2 months is a bit odd, I agree. And we traded 15k at the open... if memory serves correct, we haven't traded 15k in the first hour in quite awhile.

 
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