Does anyone think this buy may be related to good news coming out April 28th? Not trying to assume/propogate conspiracy theories or anything. Just wondering as he might have some information, maybe a new CEO, better than expected financial, or some type of early positive results from a study? I'm looking for a slight positive upside leading up until the 28th and then it going either up or down (usually down) pending the news. Any thoughts???
I agree with previous poster. Kovner is NOT a trader. He is also not this heavily invested for just few bucks IMO. He never sold even ONE share and he is probably looking for a nice return on his investment when all is said and done.
Lets not forget that Caxton (Which is a VERY successful institution of which Kovenr was the CEO) is ALSO heavily invested in SNTA and never sold ONE share...
I agree with cert, that is blatantly illegal. I think he's just helping his company out at an extremely attractive price. I find it hard to believe that he needs another million shares. He is looking at it the same way we are. The company and sector are being kicked in the teeth, so you accumulate/buy when it's down and investors are scared. A billion dollars won't make the best company. Good leadership and a solid engine will. He likes what he sees under the hood and he's preparing it for the track. It's generally assumed to be a positive sign for the future, but not immediate future.
I absolutely agree.That would be a violation of the SEC rules.
No way of knowing but I suspect the $5MM went straight into R&D to expedite news.
That or,SNTA is telegraphing that is all they need to survive before news.
As to the price action over the last few days,IMO......SNTA is basing/consolidating.
I do not think it will pass it's low of $3.89 on 4/7---Mon.
Everything indicates to me that SNTA is trying to break out and is not far away.Time will tell