SCHMERTZLER MICHAEL: Declared Holdings
21-May-09 *1,522,840 CYTK Purchase at $1.97 per share.
(Cost of $2,999,994)
* Indicates that some (or all) shares are held indirectly (e.g. in a trust, by a spouse, etc.)
It is certainly possible that the spike was due to some folks trading with inside info, its not legal, but happens all the time.
Usually, there are a lot of parties involved in these kinds of situations, and its often people ancillary to the companies themselves that are privy to the goings-on and share and trade the info, eg - lawyers, consultants, banks, etc etc.
On the other hand, if you look at the chart, this is a very lightly traded stock and is prone to sawtooth price movements, so who knows?
I am confident in the drug's prospects and thus hold regardless.
If there is a buyout of a small cap bio with a cardiac drug, it is possible we could see either AMGN-CYTK, or GILD-ARYX within months or even weeks.
Thanks for the response.How do you explain the sudden jump.I heard that story the trading day before the run up.We were at a strip club for lunch when he got the call.He did say the caller could get in trouble for saying what I posted.What do I care I don't know him anyhow.So I checked this stock out and actually it has some very good upside possibilities.You watch I bet some big news does come out of this rumor.I dn not want to call this a inside tip,but it seems some one has a big mouth.I hope!Latr.
Not possible. Insiders are blocked during periods of material events, hence those with inside knowledge as to a impending buyout cannot purchase, or conversely sell with knowledge of bad news.
It was a phone call from my buddy who does not play stocks but noticed I do.He said his cousin called him and advised him to invest in this company,the rest I posted.his cousin is employed somewhere in connection with this stock.I never heard of this company.
Don't worry buy what you can afford to lose.This company will be taken over on a buy out,the news already has been leaked.Employees are buying shares like mad.This is not a rumor.I am not sure if it is in ink but they agreed upon it.
I could certainly be wrong, but I doubt that will be the case.
Though I said "end of May," I am guessing 90 days was the option review period and depending on the exact day of the data turnover etc, it may very well be June 1 or so, thus the warrants were structured with some wiggle room.
The pps drop on news of the warrants is a buying opportunity, because the news was a misread. In actuality, the warrants were a good move by management as a hedge in case Amgen declines, and a good deal for the investor as well.
I think the pps drop was an incorrect reaction.