Yup and better than the competitor's results with same. Even more of a reason for a purchase. Thanks for pointing that out.
The best in class Hep C treatment is owned by Achillion pharma. Let's start the bidding at $40 shall we? Who would like to start?
That's my thinking. They would want to release good news to help buffer the price and provide a market for the shares. SOP
Typically they run the stock up going into that kind of announcement. They usually try to time those after some good news so they have something to sell into.
Remember when Martha Stewart sold Biogen at around $50 and got arrested for insider trading?
What's Biogen trading at today again? I forget. Maybe you should look it up.
And they can move it wherever they want to. Do not mistake price action as having any predictive value. Just remember the stock would not be 105% owned if it was a bad one to own.
Let me put it to you another way. Explain how, with no bad news, and no institutional selling for several months, the ownership remaining over 100%, ACHN went from 16 to 10? And the market's been steady to up during this period also.
If you can't see what's right in front of you, I don't know what else to say.
Actually there are plenty of examples of this. And it is fairly rare to find 105% ownership in any stock, much less a speculative biotech.
But you are entitled to be wrong.
Squeezing every last cent of retail they can out of the stock prior to the announcement.
Keep in mind, the last time ACHN released data on their first in class HepC treatment the stock hit $26. Because the stock is wholly owned by tutes and the funds, MM's can have their way with the stock to keep retail away. They did the same thing with VRTX pummeling the stock from the 50's to the 20's.... just before it went well over 100.
It's not fair, but if you recognize the games, you can use them to your advantage.
I like this company's chances. They have a great technology. This is a gamble as is any clinical stage company. But this is very exciting tech with a broad range of applications. At $5.xx if all goes well we are looking at potentially massive gains. But it's a risk and we have a long way to go.
I do like that insiders are all buys and no sells. Although I imagine the VP that quit will sell off any position he has. Probably will be forced to.
It's funny that the stock has been trying to sell off since he quit. Kind of silly. I don't think this guy was anything special that can't be replaced in short order. Perhaps the selling pressure and his quitting are a coincidence.
It's the internet. You won't find too much friendliness here. It is the wild west. A place where those who got beat up every day in high school can finally get back at the world, without fear of reprisal.