According to my work June should have been the low close on a monthly basis and the month of July should close above $4.08. July should also mark the start of a long term up trend although it may be sideways to up in the beginning. It will be interesting to see if this projection plays out.
Many here seem concerned about a lack of news. Positive news events are like currency. Any company has only a limited number of them and they need to be spent carefully. The release of most news events is managed and timed by the company. At some point OXBT management will want to turn the price of the shares higher. This is a given since much of managements income is tied to share price performance not to mention their personal investments in the company. When the time comes I'm sure we will see a series of carefully timed news releases to help facilitate a rising share price. Management is well aware that Oxycyte is their "big gun". I expect them to withhold Oxycyte news until later when the share price is already considerably higher. Once an up trend is established there will be a more regular stream of news events and PR.
Doubt it. Any major shareholder has to register his shares before he can sell any part of them. Just because he registers them doesn’t mean a sale is imminent. If you were in that position would you register them just a few days before your intended sale knowing that it would put downward pressure on the shares ahead of your sale? No, you wouldn’t. You would register the shares well in advance of any planned sale. On the other hand you might chose to register you shares at a time when the stock price was weak if you wanted to buy more shares at depressed prices. These guys aren't stupid.
My own work suggests that's the bottom will occur by the end of this month and that July should begin a move higher. That's such a broad prediction that it is laughable but, the oxbt chart doesn’t give much to go on at this point. Given that the company has stated it intends to begin phase 3 trials in the 3rd quarter a rise starting in July does make sense. The price is already in the range ($4-$3.90) where we should begin to see some support. A close under $3.90 would probably produce more selling and take it down to the $3.50-3.40 area. Everyone knows how volatile this stock is. It can close at $4 today and with a little news open at $6 tomorrow. That makes trying to buy a low problematic. One doesn’t want to be completely out for fear of missing or all in for fear of further declines.
The problem is, most true believers are already in and holding. There will be a new crop of long termers eager to buy once fresh news starts to filter out. For now the lack of news creates uncertainty and that causes pessimism and the bearish bias. The Alpha story just added to that uncertainty. Any news that removes some of the uncertainty, like the start of trials, will turn the stock and give it a bullish bias. Until then the stock will continue to test support levels and probe for a bottom.
Anyone who read the reports would. The company is not going to be 10 people for very long. If you go review their news on this site you will find where they take about it when they discuss the sale of first group of shares. I would waste a lot of time getting overly worried. It's not a big deal. People expect to be paid. Paying them with shares rather than cash can work to the companies benefit.
It the shares they intend to use as compensation for employees. It shouldn’t be a surprise but obviously it’s coming as such to some. If you've been waiting to buy this is a good place to do it.
At last reporting oxbt had almost 1.8 million shares sold short. At the same time average daily volume has fallen to a point where it would take about 10 days to cover all shorts. Any bullish surprise is going to have a large effect.
Nice to see some posters here that aren't here just to pump some other site. This will eventually go higher than $10. The folks that bought all those new shares at $5.60 were wholesale buyers. They wouldn't have taken the risk on this company unless they thought there was a real good chance of making at least 500%. Anything less than that wouldn't be worth the risk.
It's a legally binding agreement that basically swears the FDA and other parties to secrecy. It guards trade secrets by making info passed between oxbt and the fda confidential.
This has more to do with the general market than anything happening with oxbt itself. I believe this is a market correction and not the start of a longer term bear market. There's been way too much talk of crashes and long term bears for it to happen, but that's my opinion. The bio tech index $NBI has taken a real beating down about 23% from it's high. Today it touched 2174 which, as I see it, is the first area where it might find support. In the mean time it's important to remember that nothing has changed the outlook for oxbt. They have already raised the funds they will need. It's not as if they will have to contend with doing that in the middle of a bear market should that be the case. OXBTs long term future rests with the results of the trials of it's two lead drugs not with the direction of the stock market. For now lets see if $NBI can hold the level at 2174.
OXBT barely traded 200K shares today. Given the beating the general market was taking and the biotech in particular there didn't seem to be a big rush for the OXBT exit one might expect. Short interest reported as of 3/31/14 rose to 1.8 million shares up from 1.2 million. If there is any sort of bullish surprise the resulting move should be dramatic.
We are in a sort of transition period where interest in OXBT is shifting from that of short term traders to long term investors. Initially the price action was dominated by short term traders. That produced the volatility so many of us love. Now at least 50% of all oxbt shares are in the hands of long term investors and that percentage is probably growing. Short term trading provided the "fuel" for the dramatic rise but it also was responsible for the dramatic declines. The next leg up will be fueled by a rotation of shares between longer term investors rather than short term traders. It should have greater endurance than anything we have seen so far.
The last hour of the trading day seems to be becoming something to watch. The old saying is the first hour belongs to the amateurs and the last belongs to the pros. More than half of yesterday's total volume occurred in the last hour of trade. Also the last hour was the time period when the price ran up so dramatically.
OXBT said they would not release any info on the phase IIb trials until the third and final cohort was complete. If they remain true to their word that would mean that any news release is still some time away. We need to keep in mind that the phase IIb portion of the trials is being conducted on people with traumatic brain injury and while it is primarily a dose escalation study it will also give a good idea of the effectiveness of Oxycyte for treating TBI. While you and I are not yet privileged to that information what do you want to bet the folks who bought $55 million worth of OXBT shares got a sneak peak at the available results?
Everybody wants a huge winner. They want to buy something for 2 bucks and then ride it to $100. Sounds easy. Just a matter of being in the right place at the right time, right? Of course not. You need the conviction to buy and then remain long because the market will do everything it can to convince you that you are wrong.
Those that picked up 5% or more of the total outstanding shares in the recent stock offering are now starting to report. One buyer of 2 million shares is Great Point Partners LLC. It's managing partner is Dr. Jeffrey R. Jay MD. You can read up on him at zoominfo. Really lends some confidence to what OXBT is doing.