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Synta Pharmaceuticals Corp. (SNTA) Message Board

  • jfk123_1 jfk123_1 Aug 14, 2013 6:06 PM Flag

    Regarding Kovner, the timing and manner of his purchases are more telling than just the size, something is up

    He bought 20 million dollars worth of shares at just under 9 this past December. The stock trades higher, all the way to 11 subsequently. He does not sell. Then on there is the departure of the executive and the first hit to the stock, he does not sell. Then the June 3rd crash when the Galaxy results showed a survival indicator slightly shorter than expected (but still significant enough that a success in phase 3 for lung cancer is likely).

    What does Kovner do? He goes out the very next day and buys more shares on the 4th of June. Then he and other execs continue to buy more share the entire month of July. So why would he personally buy in even deeper at around 5 a share, after the drop? He and management knew that the market reaction to the June 3rd disclosure was incorrect, and I highly suspect they knew that Enchant was running well and that they had complete responders in their trial groups. They know this is going much higher people, either as a public company, or as a private entity.

    With Kovner's stake by the way, he is close to having outright control over the company. When he crosses that threshold, shorts beware. The squeeze will be on, simply because there will not be enough shares to go around. Ever hear of Volkswagen? Check out that squeeze and simply replace Porsche with Kovner.

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