Good luck longs. I thought it might close below $14.02 today even with the good news yesterday thus keeping the double top in play. Looks like I was wrong. Good luck longs. I closed my short position today.
Poison pill put into place a while back for this very reason.
Will not be a takeover target. These guys who own the majority of the Company are confident this is going to be huge. Therefore why sell out. Just sell enough stock to the public and big pharma to gets the funds to do the work ad form the relationships with big pharma for late stage commercialization.
The idea here is to keep the float as small as possible while getting the neccessary funds to add value.
First of all I think that ALNY has great potential longer term. ALNY wants to get the stock price up so that they can sell those shares at as high a price as possible. Most people are aware that a few weeks ago they announced a shelf offering for 75 million that will be priced at some time in the future. B of A just came out with a buy recommendation IMO to further help the price along. More than likely B of A will be the firm that is the primary broker for this deal so it is in there best interest to help get this deal done. Anyone can see that there is not a lot of volume being traded in this stock on a daily basis. There seems to be fairly strong resistance around the $14.00 level. If it can break through that level on strong volume on some great news it may run slightly higher than $15.00. IMO, after the stock offering is done which will be dilutive, it is destined to come back to retest the $9-10 level again, probably sometime in March through June of next year. As I have said before, this is only my opinion.