The reality is that nothing in the market goes up in a straight line. Tradition like selling on the news, bear traps, etc., all make straight lines impossible. The only logical reason for Halozyme to go up this slow is that the revenue and price to earnings are all down the road a bit -- so you could call it a speculative stock from that perspective, but speculative bio stocks still have price increases beyond reasonable price per share because they are being purchased for future payoff -- both medical and monetary. Halozyme is one of those stocks that will eventually burn some shorts severely, but the market is still slow on the uptake. Patience, sometimes beyond reason, is necessary for investors in order to avoid missing the day this pulls a triple. Technical traders will see to it that your not satisfied for a year or so.
There can be many reasons when a stock closes lower, but today's range was between $8.12 and $8.60. Stocks that have low stock prices (like HALO) are favorites of day traders that can move in and out and make some money. I am sure that July options expiring today entered into the volatility. However, I would not be surprised if certain investors with the patience of a gnat sold today because they did not see the stock price bump up after yesterday's Baxter conference call. Although, the news was very good, I think it only confirmed what we already thought. (But I was personally impress by their focus and enthusiasm toward HyQ and SC future.) I think any news we get from the Roche conference call will be more of a surprise because their information is not as robust and there was no hint of an update on Herceptin SC and MabThera SC on their next call, but they should be one. (Baxter told us in May there would be a HyQ update on the Q2 call.) Also, possible CHMP recommendation on MabThera SC next Friday. No need for concern.