No they said they expect to sell another $100M to 200M in non core. They also indicated future CAPX will be funded from cash flow so no more additional debt. Also, the sale got them out of $200M of future demob liab and expect future G&A to drop. 10% annual growth @ $50 oil and 15% at $60 oil.
Lewis is a wall street guy and I'm sure he knows how to provide info on the QT without overtly breaking the rules. It is probably good if he does to keep the large tuts from dumping. INSM has always been about 2017-2018 so while today is disappointing it really doesn't matter. Good trial results even before approval could put it in the $50 to $75 range.
My guess is they do have good investor relations information and heads up; but limited to the tuts that own the majority of the stock ( all 5 to 10 of them). Us retail couldn't even begin to cover the shorted shares.
I think he has already discussed this with the 5 to 10 owners in control of INSM and may explain why it has taken so long to announce the withdrawal. Well I guess this is the opportunity the shorts were looking for. Expect a blood bath for the next month or two. another 1 year setback.
Only stupid people like FMR, T Rowe Price, Baker Brothers, a bunch of conservative banks and pension funds and another 100+ institutions who manage 100's of billions of dollars, but they aren't as smart as you ; are they??
Am I correct to assume this 25% includes both short covering and new short positions?
Also, is this reduction from more recent 60%+ daily levels represent a more positive or negative pressure on near future SP ?
High to low today was $ .25. That was back when the share price was in the $6 to $7 range. Maybe a record on a % basis. Its' going to be a long weekend for us hopeful bag-holders with a lot of skin in this game.
Tuts picked up another 500k in shares - now over 57M or 92%
The top ten Tuts increased their holdings by 1.65M shares
with Visium moving up into the group by adding 1.3M to their position .
Redmile sold out their position of 1.3M - Was there a Visium / Redmile backroom deal???
The technical condition of INSM is improving. Some of the indicators have turned positive suggesting that a bottom in the stock price has likely occurred.
The stock is under performing the market over the last 50 trading days when compared to the S&P 500. The MACD-LT, an intermediate-term trend indicator, is bullish at this time. INSM's chart formation suggests an upward trend is beginning/ stock is in the early stages of a rising trend.
A close above $14.46 is a number to watch to confirm a trend reversal.
Over the last 50 trading sessions, there has been more volume on up days than on down days indicating that INSM is under accumulation, which is a bullish condition.
The stock is trading below a falling 50-day moving average.
A close above this moving average would be supportive of the improving conditions.