I have 37 million OS, 40% insider and 30% institutional. The float on the source had N/A. Obviously, it is relatively small for biotech land, which is why material PR's can move the stock so dramatically. TIA
37M OS times 40% held by insiders means they hold about 15M shares (presumably not in the float)
Institutions and Mutual Funds own 48% of available float (according to Yahoo) so that takes another 11M or so out of circulation (unless, of course, they are buying/selling on a given day). Does that give us approximately 11M in actual float?
I like the prospects of ACRX here, however please proceed with caution.
Affymax was 91% institutional ownership and 4% insiders before the implosion. Mutual Funds boosted Affymax from $6 all the way to $28 before caca hit the fan.
They were all caught with the hands in the cookie jar outbidding each other left and right for shares.
They all got trapped. I know Yahoo's % ownership is slightly dated but guess how many shares are held by mutual funds today. You guessed it, Zero. They were forced to sell once the par-$4-$5 price range collapsed.
Luckily I had shares from $16 and more at $18 and bailed at $23 and $21 before the crater.
Big guys don't always win, even though they act like they do.