Per Morningstar reporting 9/30/13.....Deerfield sold 52.4% of their ARNA position, 1,352,009 shares. I always felt they were not in for the long side, and now I think I know who was leading to the short side over the years.
Arena Pharma has been in bed with Deerfield for financing long ago. I appreciate their help for financing, but they are hard nose money hoe's and will make a buck short, long, or sideway's, I think they had a knife in our back since we paid off their debt......never trust the street.
Deerfield and credid sussie plays a major short seller role they both sold there position after it drop below 5 because institutions charge heavy premium almost the stock price to short stock below below 5 that's why Deerfield help the short to drop price below 5. If u remember when arna was under 5 Deerfield sold there share at that time to help short to pay heavy premium.
Sentiment: Strong Buy
Deerfield has been lending shares to the shorts all along they are known for doing that, pretty soon they are going to run out of owned shares if they keep selling what they hold. The reduction in Deerfield shares will only reduce the shorts ammunition i.e. borrowing capacity.....
I can assure you Wellington has it's shares on loan. The way an open ended fund works it has to meet redemptions in cash, the manager will borrow to meet requests on days there is negative cash flow rather than liquidate a holding incurring trading costs and tax consequence to its investors.
You have the crosshairs on the wrong target, big fella