The following stocks had notable activity in their options during the past week: $XOMA (12/2): 2,000 MAR 5.0 Strike Calls (stock at $4.78) were purchased for 1.30 or $260,000 total cost. Buyer makes money if stock trades above $6.30 by March expiration. $ETRM (12/5): 1,500 JAN 2.50 Strike Calls (stock at $1.94) were sold for […]
December 5 Biotech Update- Who is Bayes and what does he have to do with Biotech?
Another slow day in the market but this will clearly change as we enter into ASH this weekend and early next week. At least we should have some interesting data to talk about. We were starting to see some ASH names move today, which is to be expected given we are days away from critical […]
December 4 Biotech Update- Why Did I Buy Innate Pharma?
To be honest it has been a fairly boring week (for the most part) and the market seemed weak in the morning but not in a meaningful manner. There was more significant selling in the afternoon but I am not reading too much into it or the later day rally. Biotechs generally have been following […]
Catalyst Watch – Vol. 1, Edition 9 (12/4/13)
Below are current tactical and strategic thoughts on approaching FDA and clinical trial catalysts for select names. Estimates, values and views are as of the date of publishing (or are noted), are subject to potential future, pre-catalyst revision and are not intended as investment recommendations. Please read our Disclaimer: Catalyst Watch List – Update: MACK: […]
December 3 Biotech Update- CELG partnering and some interesting price action
The market sold off and took a number of biotechs with it, although there were some that bucked the trend. I would not read anything into the selling today as it seemed more like a breather and macro related than something specific to biotech. In fact, it seemed much more akin to a buyer strike […]
December 2 Biotech Update- Getting Ready for ASH
Last week ended well for biotechs and today was a little more of the same with perhaps some consolidation. News has been relatively limited as most traders/investors/general biotech followers are gearing up for ASH. I will be heading down on Friday and staying through Tuesday, which means there will not be any updates this Friday, […]
November 26 Biotech Update- MACK fails … again and Strategic Buyers Opening Wallets … again?
We are drifting towards the holiday and there is really not much action and we are fairly quiet on the news front. As such, this will be the last update until next Monday (unless, of course, there is some spectacular news that happens between now and then). Next week will also be a day short […]
November 25 Biotech Update- What to Make of CLDX and CBST data and the new MRK trial
The market was a low volume chop fest (although with a fairly narrow range) for the most part and I do not think we should read too much into price movements unless they really take off on above average volume. We might be able to learn something about sentiment this week but I believe that […]
BMY – Quick Chart Update
Bristol-Myers Squibb Company (BMY) -NYSE Interesting price action since September 9th after breaking out the downtrend line around $41.90, we kept watching the chart day after day during the preparation to AASLD reaching the high of $47.90, followed by a price consolidation and forming a flag pattern that we discussed several times through the private […]
November 22 Biotech Update- A Busy CHMP out with some Bullish News
You will notice that I am change the title to something more descriptive, hopefully you will still read the updates with this change. Sentiment is certainly shifting in the biotech sector and it seems to be doing so as quickly as it turned negative. What was my fear that the sector would be hit with […]
Week’s Option Activity (11/18~11/21)
The following stocks had notable activity in their options during the past week(s): $HZNP (11/18): 1,632 FEB14 6.0 strike Calls (stock at $4.47) were purchased for 0.95 or $155,040. Buyer makes money if stock trades north of $6.95 by expiration. $NWBO (11/18): 250 APR14 7.5 strike Calls (stock at $5.71) were sold for 1.05 or […]
Catalyst Watch – Vol. 1, Edition 8 (11/20/13)
Below are current tactical and strategic thoughts on approaching FDA and clinical trial catalysts for select names. Estimates, values and views are as of the date of publishing (or are noted) and are subject to potential future, pre-catalyst revision. Please read the site Disclaimer: Catalyst Watch List – Update: MACK: No change to strategy (see […]
November 20-EOD (or midday)
In terms of the sector it is more of the same with an inline to slight outperformance of the market writ large (when the market is treading water or going moderately higher). Despite this positive action I always get worried when I see reports that newsletter writer bearish sentiment is at multi-decade lows (often viewed […]
November 19- EOD
The sector was doing fine yesterday until Icahn dumped on the market and everything got caught in the crossfire. This morning they are doing fine again, so it seems that as long as there is not a larger market selloff biotechs might just get time to catch their footing. Of course, it is still an […]
November 18-EOD
Thankfully there was not a lot of news but biotechs did not just drift lower. I still worry about tax loss selling hitting the sector (or at least the small to mid caps) heading into the end of the year but it is nice to see that the sector can tread water on no news […]
November 15-EOD
It has been a relatively quiet day in biotech land, which is fine as it has been a busy week. I saw more of the same with a mixed performance and stocks reacting to news specific to the company and those with little news were drifting. 1. I have been spending a lot of time […]
November 14- EOD
It is a similar market day as earlier this week with some definite movers to the upside and downside but with nothing that is general to the sector. If anything it is slightly weaker than the market at large but not in any dramatic sense. Sector seems more driven by stock specific stories rather than […]
Week’s Option Activity (11/6~11/13)
The following stocks had notable activity in their options during the past week(s): $MACK (11/6): 600 MAR14 2.50 strike (stock at $2.28) Calls were purchased for 0.60 or $36,000 – buyer makes money if stock trades north of $3.10 by expiration. Another trade, 754 DEC 5.0 strike Calls were sold for 0.10 or (small) total […]
SRPT – FDA Says No To Sarepta AA
On Tuesday morning, Sarepta informed investors that in what appeared to be a change from its previous stance, the FDA was not supportive of the company’s planned Accelerated Approval filing for the DMD drug eteplirsen. Even more damaging, the agency not only called into question the legitimacy of dystrophin as a biomarker, but cast doubt […]
November 13-EOD
It is difficult to get a real sense of where the sector is going outside of down. Obviously one could draw the conclusion that sentiment is negative (and it is) but I am seeing more pockets of strength than the other days. What is difficult is that there does not really seem to be a […]
