PRAN does not get much attention which many feel creates an opportunity. One small wall street firm covers (rodman renshaw, not aggressively but generally has been supportive of the science). They have not pumped the stock for whatever reason. Very illiquid so not just a few keystrokes to get in for many US investors (on line brokers basically require a direct phone call to trade it), especially retail. Much better volume in Australia where the company is domiciled. PBT:AU is ticker. Although the volume has been steadily increasing of late in the US ADR which is a great sign for the stock. Given the recent run up to $5.70 intraday from recent lows of $3.30 intraday this recent dip doesn't really bother me as I think some people got in as a trade. Many think the science is underappreciated and there are near term catalysts that could help. ICAD this week and the company has spoken publicly about its discussions with large cap potential partners. A good amount of exposure at ICAD and a potential deal could do wonders for the stock. In the end though it just comes down to the science, either you believe it is worth more than $4.60 per share or you don't. What is very clear from other AD stocks that have been given more attention is that if pbt2 is legit, $85 million market cap is dramatically too low a valuation. (see other phase 2 AD assets at ELN, see MDVN, etc...) However taking a look at where this stock has been over the last 12 to 18 months (excellent returns over this period) indicates there are more believers now than before the data, despite what has been a real tough market for small caps. If you are interested, take a look at the p2 data for pbt2 (pranabio.com) and compare to what is known from eln/wye and others at similar stages of development. it is encouraging i think, especially considering the inexpensive stock price and premium demand for AD assets at big pharma bd groups. The story has moved beyond binary trial risk which is also encouraging and the play for the next quarter or so is hoping the science gains an audience amongst a broader investor group and then of course that a license deal is consumated.
You got it nearly all there eimmikim, thanks! Big news are closer everyday now and people are coming back to markets from holidays. A lot of money is looking for a profitable home and biotech is hyped great now. And this darling of ours needs so little to skyrocket.. Fasten seatbelts if not on yet! GoodLuck!
it only averages 14,000 shares a day in the U.S....so....how many people would you expect to find here ? if you have a question ,ask away.There are a handful of longs that check in every day.Best of luck.
Thanks for answering...I took a small position last week after a little study and am just trying to get a handle on the current investors' sentiments...with the small volume as you point out I was wondering who was selling and why ahead of the converence at teh end of the month.