IBB trading today at 335 after topping at 400 in July, it found its bottom at the 285 you mentioned (type above). If we are able to regain 400 it's going to take some time, we traded at 318 just two days ago.
Nam, I just glanced at the chart, is that an inverse H & S showing after today's rise toward the neckline? I don't own shares here but did years ago.
We are what they call 'die hard' longs here, most of us. If Idera's YMB wasn't active with so many intelligent longs willing to reinforce our conviction and build our knowledge, I doubt I'd still be here, and with as many shares. The whip saws while waiting have been brutal. With what's about to be revealed here, hopefully our short position will diminish as we attract more institutions to park their millions here.
The Company presentation is at the time you say. How or when they choose to reveal the summary of the data hasn't been shared. It could come pre-market Monday morning as a PR? This would be a good question for Bob Doody.
This post is intended for entertainment purposes. These observations may be of interest (or not). I'm fine with that.
1) Today was the 4th red day in the last 5 days on our daily chart.
2) After failing to close above the 250-dma @ $3.62, the price began to roll over.
3) The inverted head and shoulders formation in the making (pointed out by Biospeculator2014) has not been completed at the right shoulder since we failed to reach the neckline around $3.92.
4) Today we closed above the 50-dma at 3.21 (intraday low of 3.16).
5) IDRA historically has not respected this 50-dma, but it could act as support this time. Should we slice through it, next support is where we bounced last time. If so, it will happen quickly IMHO, with upcoming catalysts approaching a week from Saturday.
6) The weekly chart still retains all the bullish indications noted in my recent post. A positive weekly candle could still develop over the balance of the week. We need to get lucky here.
7) Today we closed below the 13 day 'exponential' moving average -- not good, as staying above it extends the uptrend likelihood.
8) Volume today was higher than the preceding several days at 1,147,000.
Longs need to win here, and it would appear our patience is being tested yet again. Persist with your courage and hold your shares. GLAL.
The rest of the article here:
Healthcare companies have come under pressure to justify the rising costs of prescription drugs. Shares of biotechnology stocks dropped nearly 20 percent over the last week in September after Democratic presidential candidate Hillary Clinton said that the “price gouging” in the specialty drug market was “outrageous.” The Nasdaq Biotechnology Index remains 8 percent below its closing price on Sept 18, the last trading day before Clinton said on Twitter that she would announce a plan to lower prices.
Partially in response, Fraunces is looking for companies that can develop so-called orphan drugs. Used to treat rare serious diseases or disorders, these should not face the same cost pressures as more widely prescribed medication, he said.
“This is one of the strongest positions of pricing power, because you won’t see an HMO push back on prices for a drug that only affects 20,000 patients or so,” he said.
Fraunces has a long position on Prothena Corp PLC, which is developing a drug that can treat amyloidosis, a rare disease in which a type of protein called amyloid builds up in tissue and can lead to organ failure. His largest long positions are Horizon Pharma PLC and Eli Lilly and Co, and he initiated new positions in Juno Therapeutics Inc and Diplomat Pharmacy Inc in the quarter that ended in September, according to Morningstar.
Fraunces’ fund is up 17.6 percent for the year to date, a position that puts it in the top 1 percentile of long/short equity funds tracked by Morningstar. The fund has gained an average of 13.9 percent a year over the last five years, a position that puts it in the top 5 percentile of its category.
This management deserves to have their shares plummet in value, they were not truthful or diligent, that write off they took from the Stryker discounts I think caught them with their pants down. That special dividend should have been the warning I heeded to sell my shares. I could have saved myself a bundle, but selling when I did last week also saved me a bundle. I am mad about it, and my posting today is directed at management primarily. I am sorely disappointed, it will serve me well to be looking for warning signs of improper management in the future.
The gnawing uncertainty of it all over time is extracting its toll on people. We have here a Company that is far more valuable than it was at any time in its history, yet the pps is very restrained, today was a bummer. It's time for the good guys to get a break and the crooks to get slapped around hard. We're beyond ready for that, bring it on, let's do this!
Yesterday in one of my posts I lauded the fact that Milano is steering the Company toward development of Orphan drugs. Today toward the close there was an article that came out, published via Reuters, that was entitled "Top Healthcare Stock Fund Focuses on Costs, Orphan Drugs in 2016". Here's the first paragraph: Their top holding is Horizon Pharma where I have shares. We should also benefit if people here stay invested. The tree shaking got to some today, wish we knew who was doing this. Here you go...
By David Randall
NEW YORK (Reuters) - Healthcare companies that can either contain costs or develop medications to treat rare diseases, known as orphan drugs, will be the most likely to outperform in the coming year, said John Fraunces, whose Turner Medical Sciences Long/Short fund is among the top performing healthcare funds over the last 5 years."
If I was still holding I wouldn't likely sell today either, but one has to ask, how long will it take for this company to start returning value to its shareholders? I answered that last week with a no confidence vote and moved my funds to higher confidence names. This is a story stock, I love what they have as products, but MDXG is outperforming them, and that management isn't afraid to be transparent and give guidance. The secrecy of this management style and their arrogance in shutting off questions in conference calls was it for me, they won't give guidance because it gives shareholders something from which to judge their performance as a management team.
This management threw out the biggest red herring I can remember, they issued a dividend to shareholders, and did that ever distract shareholders from what they had hidden in their books. Brean Capital's downgrade today to sell is timely and calls it like it is, aggressive accounting others might call manipulation. The dividend unlocked for long term holders and insiders some revenue, since they knew they weren't going to increase the value of their shares. What a sham, and it's a shame. Management should be ashamed of what they've done here.
I sold last week after losing complete confidence in management. That tax loss was used to offset significant gains, it was my biggest losing position in the last year, but not a big had I waited like many of you here continue to do. Now if today's action doesn't shake the longs here, then you've fallen in love with your stock, and that's a mistake. OZARK, are you listening, you are the one who keeps pumping this stock like no other.
Newbie, with the warrants they own, this should settle you down, we are more like 86% owned by institutions. This thread will continue until we have it nailed, stay tuned.
Thanks paladin_roams for spelling this out--they likely won't exercise these warrants unless they plan on selling a good part of their holding, or prior to a buyout. Mind boggling holding! So, when we are seeing roughly a 50% institutional ownership of IDRA (118,350,000 outstanding shares of which 48.61% are institutionally owned (Nasdaq) = 57,526,804 shares), that figure under represents the actual fully diluted institutional share count by the 42,457,379 shares (warrants held by BB). Not sure how to compute from here...
Since the drop initially started by Hilary's tweet, from 3rd week of September to now, we have on the DAILY chart an inverted head and shoulders. It isn't on the weekly chart, but neckline around 19.50. This usually forecasts a powerful up move, perhaps enough to match the dramatic down move from the $28 level. I expect by the time TW reports on Q4 we'll be back at that level. GLAL.
Since August 24th we've bounced off or held at this level 8 times. No closes below, today was a good example, intra-day we got down to 8.21 and came back to close positive at $8.58. I am going to go out on a limb here and say the next two weeks are going to be moderately positive for this stock, as we approach the ASH presentation. What happens coming out of that should be positive, but we'll see. I know most here must be holding with a negative basis, how else could it be with the stock near 52-week lows.
Agree with your comments and the support at $16.50. We've bounced off that level 5 times since the 3rd week in October.
Mike is having a hard day (CLVS post) and doesn't want to lose more money, none of us do. He's concerned and to him this is a red flag warning that tutes didn't appreciably add to their positions. There are no ironclad assurances as he learned today with CLVS, and holding ARRY with 98% institutional ownership hasn't helped the stock perform well, has it? In January ARRY opened the year at $4.80 and it closed today at 4.26. At IDRA, our year to date performance is worse (we began the year at 4.45), but unless you bought at the highs, people here have had a lot of accumulation opportunities below $3.00 a share. Sorry Mike, maybe you should go find the perfect stock?