I suspect it's been overlooked by many here that the entity selling those shares is a relatively new owner.
The two Beacon Bioventures subsidiaries involved used to managed by Fidelity Biosciences - but are now managed by Northern Neck, which itself appears to be owned by a group of FMR-related individuals.
Perhaps an element of majority vote has now dictated taken some profits now just in case there's bad news. Perhaps there's a new fund manager who has different priorities. Perhaps there's now a Lewis-style trading plan in place.
But one suspects the transfer and the selling are more than just coincidental.
Many of the bashers like to make a big deal of how an FMR sells off every so often. However, I believe many of the funds either have to or wish to balance their portfolios regardless of what the future holds. Shorts? I really hope we get the rare event where shorts are fried alive.
There can be no reasonable doubt that unless there is something amiss with the imminent Phase III results the Shorts will incur a combined financial loss in the tens of millions on these particular trades.
Doubtless they're hoping to claw something back by shorting to regain control of the share price when the demand following the Phase III results begins to run out of steam. Rather them than me.