Low liquidity. It had to pull back sometime, it's been on a meteroric rise. This is healthy for next move up. Luly sounded very positive and excited about what they have going on during the JPM conference
Only other reason would be because he's leaving company and would lose them. Either way it is positive!
Million share buy block at $45 last minute of trading. I realize today is a triple witch but it is still very bullish!
This run-up has really been off the radar screen. Some major accumulation going on! Could ABBV be the quiet accumulator?
If we fall back it will bounce off of the 50 SMA and serve as buying opportunities, otherwise, onward and upward!
Looks More like accumulation with low liquidity. Not many sellers and a fund is trying to accumulate a sizable position. Getting ready for Japan approval, phase 3 of next 493, and moving a NASH candidate into phase 1
Data released tomorrow.
Pending ovarian cancer drug news from ImmunoGen could be a turning point.
This Saturday, Waltham-based ImmunoGen (Nasdaq: IMGN) will be presenting highly-anticipated results from an early-stage trial of IMGN853 at one of the biggest biotech conferences of the year, the annual meeting of the American Society of Clinical Oncology in Chicago. Expectations have already been raised in the past two weeks since an abstract of the presentation indicated that four of the first 10 patients who were able to be evaluated in that trial appear to have been helped by the drug. That 40 percent success rate is attracting attention, and while the company hasn’t said exactly how many patients will be included in the results to be given Saturday, if the drug shows the same (or greater) success rate in more patients that will be likely seen as a win by investors.
This stock is down on low liquidy small time individual investors like you and Vulcanfire needing to collect your coins. If you look at the institutional funding it actually has increased. Caliber has equaled Broadfin at 8.4M each abd Primecap 6M did not sell a share. Sabby added 717K, UBS added 347K and Longwood also added 347K. So stock goes down on days with low liquidity. Once FDA cleared more large buyers will step in and your penny drops on low volume wont matter.
Outstanding shares is part of the Market Cap math equation. I posted before the Jansen news and now the market cap has been knocked down to a Billion. However, I feel Enta should be valued greater than ACHN. Adam Feuerstein made a great point, ACHN is ENTA just few years behind. So why should they be valued greater than ENTA? They shouldn't and I think that's while value funds recently loaded up on ENTA. I am long ENTA!
So the recall was due to the blue cartridge and thicker tissue. Whites does not have problems, that's why they submitted the vascular indication with the white. In the EU they are selling the modified Ver 3 microcutter 30 with the white cartridge. The V4 microcutter will have the desired performance characteristics with both the white and blue. They will submit the Blue 510k with the V4 cutter. In addition, Broadfin has had a (3) major positive moves - fired VP, took recall opportunity to resubmit white for expanded vascular label and cut the non essential personnel to save cash. I'd say they are now laser focused, being more careful (with better BOD advice) in their major moves and not over promissing and under-delivering.
Abstracts shared at Digestive disease week in DC this week must be creating the positive move. McClain value management took a position in Enta this qtr with 424, 328 shares. Krensalvage asset management just about equaled it with 424, 016 shares also a new position.
As everyone knows the Baker Brothers seem to have the hot hand in biotech. PCYC was their number 1 holding when it was sold to ABBV and GEVA was #2 when sold to ALXN. They must be feeling good about IMGN 853 in establishing a new large position prior to ASCO!