Anyone confused about why Acura has been punished despite having what looks like a pretty bright future and an approved, marketable product need only look at the sell-side pressure that Care Capital has been placing on ACUR for months. The good news is Care Cap knows this and they will let it rise if it gets too low. I can't say with any certainty that the PPS won't go into the low 1's but when the selling subsides from Care Cap, this thing will be right back in the 3s. Definitely a buy around these levels. Scaling in as we speak.
I don't think Care Cap is letting the price rise, on the contrary, I think they are selling as quickly as they can. I am guessing that at this rate, by the end of August they will be out of share. Right now they have less than 10% of shares, so we won't really be able to know when they will run out of them, hopefully it will be sooner that expected.
They may not be letting the price rise significantly but they managers over there have a particular minimum level they are willing to sell at. I'm guessing somewhere in the mid 1's. There comes a point where they would need to let it rise to maintain the gains they've made, if they were to sell the stock back down to 1, there goes their profit margin.
I agree with your estimate of august, but I do think they may keep some shares. Anyone who knows how to read a form 4 understands that Care are literally pushing the stock down single handedly.