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Titan Pharmaceuticals Inc. Message Board

  • rail_thin_one rail_thin_one Mar 6, 2013 3:45 PM Flag

    Why does the ask never go up?

    I still can't wrap my head around the fact that sellers don't want more for their shares they are trying to sell.
    Apologies for whining, but it is a very frustrating experience to have so many positives (as clkmiller has pointed out recently) with this stock, and yet not see those positives reflected in the share price.

    I will continue to hold and have not lost faith, but I am beginning to think it will be a slow climb as opposed to a rocket ride up as we get closer to the ADCOM and to April 30.

    I just still can't comprehend why sellers aren't even trying to move the ask up...or is it that the few buyers we have are savvy enough to know they can always wait and the ask will come down to meet them? Can't wait for Braeburn to begin their marketing push in combination with a positive ADCOM ---the waiting game should end then.

    Sentiment: Strong Buy

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    • rail, what you are seeing is a run up to 1.95 then shorted and covered at 1.85 to 1.89,, volume surges should show this

    • This will pass soon. Most likely some entity with a lot of shares playing the spread.They have a market maker use their shares going both long and short and they work the percentages .Market makers can see the volume coming in and can find soft spots to do their work .Dont forget they make money on all trades. Most likely it is someone selling to themselves.Churning there shares trying to maximise profits including tax consequences for when this thing takes off.AND IT WILL TAKE OFF SOON!!!!!!!!!

      • 1 Reply to barme93
      • Barme93 makes a good point. Don't let the day-to-day SP sucker you. We've been here a while, watching this SP every day, in my case for nearly 4 years now. Titan has RARELY trended as do other similar companies, price-wise. If anything, it consistently acts contrary to convential wisdom, as is evidenced in nearly every single positive news release resulting in a drop, not rise, in SP. I believe this all stems in great part from many million shares with an entry point of .02 to .10 that went on for months in 2008 and 2009, until that pre-market announcement of Fanapt's approval 5/7/09 that popped the SP from an open of 1.65, up from previous day's close of .05. and ending the day at .80. 9M shares traded that day alone and another 10M in a handful of days that followed, and 10s of millions since on WIDE and NARROW swings alike, and without any news or even credible rumors driving most. We've seen this price go all the way back down to .63 and back up to near mid $2s twice in that same time period but what moves this stock is not anything consistent with the market logic of traders because Titan's stock, as Barme93 indicates, is heavily controlled by those who make Titan's market, and many believe exclusively for the benefit of their cronies. Likely hedge funds like Steve Cohen's and others. I wholly agree with Barme93 in the THIS WILL PASS and SOON. Time is short. About all that's left to spin negative is the AdCom meeting discussions. Without a CRL from the AdCom forward, each day that passes should see a rise, provided there is no real credible doubt that has been raised at the AdCom. By mid-April, optimistically I believe the price will be approaching mid $3s and when approved, will not likely ever even see $3 as a low again. That's just my opinion but my money is where my mouth is. I've swing traded this stock for years, like many here but for now, I'm all in. I'll also be in the AdCom audience in Bethesda 3/21.

    • If you wanted to dump shares, you'd want the pps to go higher so that you could get more for your shares.
      If you are short, you want the pps to go lower. The lower the pps, the more you make on your short position.
      The more that you short, the lower that you push the pps down, the larger your gains are.
      Gheee, I wonder if NITE is short and selling short more shares each day.

      The pps should be a lot higher but I'm comfortable with NITE pushing the pps lower each day even though the bulk of the volume is on the buy side.))) I'd be even more comfortable with the pps lower.))) How stupid do I sound?

      No institution holds 5M shares of TTNP but if one did, you'd think that they would want to get more for their shares rather than less. They would want to let the pps run to the AdCom date and then spike higher on a positive vote, at which point they could dump their shares. Why let common sense get in the way of a theory out of left field?

    • When did you buy?

      I think the pps should be higher, but i'm comfortable with being around this pps.

      They are selling here because they are sitting on 100%+ gains and they find this price to be low enough to discourage a lot of competition from other sellers.

      If you had to unload 5 million shares, would you want to sell at a price where you're in competition with 4 other people to sell?

      • 3 Replies to nowak488
      • I found ttnp back in the fanapt days when a friend told me about Vanda. I bought some back then. But most of my shares were bought in the .70-.80 cent range. I bought more recently at 2.40, 1.88 and 1.80 because I want to take some gains off the table as we go up and needed to have some more shares to utilize my strategy. So my average cost basis is about 1.12 which is not bad for the amount of shares I have.

        I understand large (warrant) holders want to take some off the table, just like I will when I feel the price is right, but I still have trouble understanding why they or the MM doesn't try to get more by raising the ask. The downward pressure is something I am not used to when all I see is buys. 5 million shares times a few pennies here and there is a good chunk of change...

        I guess the other question is who is in competition to unload here? How many different warrant holders are trying to all sell right now? Where is the competition coming from?

        I agree it is comforting that there are so many buyers and that the price is relatively stable, I just wish the share price was higher and wanted to whine a little...

        Sentiment: Strong Buy

      • compettition at a much higher price. if we get approval amny of you think we will be much higher my guess many more will be running for the doors . If you can get $3 why sell at $1.90

      • Nowak, our daily volume is averaging in the 400-500K range for the past month. How long does it take to offload 5M shares?

        Sentiment: Hold

    • why is the seller selling now if we all thiink this is going higher.. Is it they know something we don't or they just taking there $5-6mil gain on the warrants..

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