Na .. smarter folks are acquiring these shares as cheap as possible. May be even Celgene will get more ..I am accumulating too .. There is somebody who go shares of VIPS at 4.35 (see Seeking Alpha IPO Preview post for VIPS) when it was sold dirt cheap levels .. Today VIPS is at 120 and analysts have HIGHER target prices. All this in couple of years.
I expect CNCE to be $200 in couple of years too and loading up as much as I can .. Once the train leaves, it is hard to catch .. IMO
...it´s a tactic - priority is not to sell - real reason is to buy as cheap as possible and as much they can get so. Selling small lots to bring the price down, trying to reach the stop losses and then catch the shares... MMs or institutionals - I don´t know...possible both of them...hand in hand... You know that it was a small IPO - 6 mio shares isn´t so much and Celgene (CELG) bought a starter position around 20%. Problem is that most people working with stop loss marks and the buyer knows this...
Conclusion: there isn´t anyone who´s making profit to sell the shares now - call it the gameplan - part one. Seller of the small lots and buyer of the bigger ones are the same adress.Next week when everyone sold the shares for a small profit or loss you´ll see a jump in price. CNCE is working in an interesting area where ASPX is working too. ASPX made the double in price now since last week - and CNCE will follow.
I bought at 15.75 (opening price) thinking everyone was looking at what ASPX did & that this time around, the buying would begin immediately making the price go straight up. Doesn't CNCE have more earnings potential than ASPX? ASPX focuses on rare diseases, therefore not much earnings potential. How big of a market is hot flashes, by the way? I know the other markets are of decent size.