Last Friday was the preliminary adjustment. They added SPPI, so I think that was part of the reason for the bump in a/h volume that day.
I've been away a lot lately, and pretty much forgot about the annual Russell reconstitution. It occurs after the close today, so expect some heavy after hours volume in several stocks. The preliminary list came out last Friday, and I suspect that that was part of the reason for the heavy a/h volume we noticed (along with a triple witch).
Still long & strong AVNR!
ralph posted the latest short interest numbers. I was out of town today and just got back. Looks as if they've added around 894K shares to the short position.
string, I think today was a triple witch, which might in part explain some of the heavy after-hour volume in several stocks, but I do believe that the A/H volume in SPPI was much higher proportionately than that of other stocks I follow. I took a quick look at the SPPI options for June, and the open interest was pretty low which probably obviates that as a possible explanation.
I would love to see a nice bump in the pps next week!
ralph, take a look at the NAZ site listing for the Baker Bros. It shows that as of 3/31 they owned 5,790,139 AVNR shares. According to their Jun10 13G filing, they were up to 18,558,487 shares. That's an add of nearly 12.77M shares (not 11M). That would bring the ownership up to around 68.5% according to my calculations. Of course, that doesn't account for any other changes in institutional holdings since Mar31. We'll have to wait until mid-August to find out where things stood as of June 30.
The appeal was filed on June 10, and it only cost $505:
06/10/2014 APPEAL - Credit Card Payment of $505.00 received re 504 Notice of Appeal (Federal Circuit) filed by Par Pharmaceutical Companies Inc., Par Pharmaceutical Inc.. ( Filing fee $505, receipt number 0311-1531239.) (Fineman, Steven) (Entered: 06/10/2014)
06/11/2014 Notice of Appeal and Docket Sheet to US Court of Appeals for the Federal Circuit re 504 Notice of Appeal (Federal Circuit). (els) (Entered: 06/11/2014)
06/11/2014 Notification regarding 504 Notice of Appeal (Federal Circuit) sent to Reporter Gaffigan (els) (Entered: 06/11/2014)
OBHF, looks as if we're headed for that $5.80 mark as we speak. Picking out a single data point is a bit unfair, as I can point to several AVNR buys I made in the sub 50-cent range. I still think you should run as an outside director, though, to keep these guys feet to the fire.
drobno, not quite 180M. The ACTUAL % of the BB holdings is 10.847%. Here's a line from tonight's filing:
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 10.8% (1)
(1) Based on 171,087,065 shares of common stock outstanding as of June 5, 2014, based upon information obtained from the Issuer on June 5, 2014.
So it's about 9M short of 180, but, yes they have diluted the stock as nearly every small biotech stock I've ever followed has.
From my post on May 25:
Long story short, a "qualified institutional investor" would have until mid-February to post the 13G, provided, that is, that their position is LESS than 10%.
So when the Baker Bros. exceeded a 10% ownership stake, they were required to file the 13G.
OBHF, add 5.8M + 11.26M (the Cowen ATM block), and you get 17.06M shares. So it looks as if Baker Bros have accumulated something like ANOTHER million shares in the last few months. Wow!