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ETrade had a wrong quote ... sorry for the false alarm. Phew. Though it's strange that it happened a day right before news hit. I wonder if it had something with the people exercising options or anything with insiders as they let go of employees and hired new ones. It's strange to just have a glitch like that.
"7:05 am Coronado Biosciences announces that Dr. Lindsay A. Rosenwald has been appointed Chairman, President, and CEO of the co, effective yesterday (CNDO) : Co announced that Dr. Lindsay A. Rosenwald has been appointed Chairman, President, and CEO of the Company, effective yesterday. Additionally, Michael Weiss has been appointed a director and Co-Vice Chairman of the Company's Board of Directors. Rosenwald, founder of the Company and a director since October 2009, has resigned as a member of the Board's Compensation Committee and Nominating and Corporate Governance Committee. The Company also announced the departure of Harlan Weisman, who served as a director of the Company since August 2012 and as its Chairman and CEO since December 2012."
I really hope you're right and ETrade is wrong.
I am showing 2.10 ah's.
New investor here. Just bought in at 2.09. The stock seems to have found a base at this 2 dollar level. The ideal would be a slow, steady move up. Big jumps never last.
Thanks for the heads up on that. Though from here to $1.90 is still a long ways. I think it's going to stay above $1.90 ... mostly likely above $2. I think we've already dipped and $2-$2.15 seems to be a fairly stable floor.
Only the ones that have taken a BIG loss during the year....
This one qualifies I believe.
I'm not sure I understand... you said there's "only" 8 days left for tax selling. If there's only a week left, why would that make it difficult to stay above $1.90? Wouldn't it make it easier considering there's only a week left for prices to go lower due to tax selling?
Does tax selling get worse as there are less days left?
I think we will have a very hard time staying above $1.90 before first week of January. Only 8 days of tax selling left for the year.
Yeah, it's sure getting slow. Hopefully it won't continue the slow downward movement. I'm still hanging from about $2.67
I think honestly though, we won't see any huge upswing until January
Fell asleep watching this one, had to get out, but looking for that $2 re-entry point. A lotta risk with incredible upside...hard to resist!
yup, people are loading up at this $2.10-2.15 range, just a bit more patience required imo...
At least there's stability at this $2 mark it seems.
Looks like today's activity is a repeat of yesterday, except with possibly more upswing.
Looks like it was simply a re-iteration of the Dec. 12th news from Zach's and a re-iteration of their Buy rating: http://finance.yahoo.com/news/coronados-tso-204503830.html
I heard there was some good news after hours
Yes indeed, whenever I see that kind of red to green action it's a good sign. We will see $3 at the least by mid-January at the latest I'm thinking.
Hammer/Hanging man - signifies reversal to the upside. The BEARS initially got control and dipped the pps down to $1.96 (roughly -7 +%). The BULLS later pushed it back to the greens at $2.21 and finally settled at $2.17. I think CNDO will pop back up, break the $2.70 high and the $2.88 55 EMA. This stock could go over $4.
Appears it even finished a penny higher. Great for the increase of the last couple days.
Yes, and it may even end the day green. Beautiful rebound today. If we get any news it will most certainly shoot up.
it would look like it has settled nicely, should slowly make it's way up from here til the breakthrough...
Lol that's exactly why I'm fighting the temptation to sell haha. Crazy dip this morning though, looks to have consolidated nicely. Hopefully up from here, or at no more going below the 2 mark.
I know how to fix this.......If I sell out now it will most definitely go up! Should I take one for the team? LOL
Holding this stock is literally gut-wrenching. I would feel better stabbing myself with a dull knife. I've had so many opportunities to get out but I keep watching it slowly crumble for some reason. I just don't want to fall to another situation where I wish I had held on. But damn, watching $3-4k just go down the drain is a bit tough to swallow.
I hope you're right....Bio-tech stocks going up all around me, except this one!
CNDO SELLING NEAR CASH with POTENTIAL AUTISM medicatiion--- interim benefits already reported by DR. ERIC HOLLANDER
This is hella scary, but I'm hanging on for dear life. Something about this trading just seems like they're setting up for a short squeeze.
Some very nice pre market trading. 27,864 shares so far. Barchart has a 8% buy
No PM volume, but slightly up? Strangely I don't see any volume, but it seems the PPS is up to 2.22 in the PM. Will wait and see, hopefully we rebound a bit today. Considering the short volume on Friday I really hope there's a squeeze sometime soon.
CNDO: The Rebound Has Just Begun 0 comments
Dec 15, 2013 4:40 PM | about stocks: CNDO
(Author's Note: To ensure that all CNDO investors (trader/long/short) obtain first-handed, time-sensitive info as well as 100% original idea, this article will first be presented in Instablog format)
First of all, for those of you who saw my original post here http://seekingalpha.com/user/9109871/instablog and made the move on CNDO during its early stage of recovery, you should have secured over 40% gain (or at the very least 20%) in less than THREE WEEKS. However, I feel it is way too early to congratulate you at this point since the stock has just got out of the "absurd price area" and begun to rebound with A LOT MORE potential to gain within next few weeks. As I commented before, "No matter how, CNDO is still way over-sold and undervalued and I personally wouldn't call it a rebound until it reaches $2. Once again, any price below $2 is absurd."
As I pointed out earlier, in the healthcare sector, playing the misprice is a lot safer than betting on the clinical trial results, which can be very risky (IMUC is the most recent example for those of you who still doubt that). As a matter of fact, the trial results are a double-edged sword in the sense that they not only create 1) the majority of risks for this particular sector; but also 2) the misprice as a result of over-sale following the negative results. If we know how to use this natural dichotomy to our best advantage, we would have been in a much better position to begin in the first place. In essence, the very reason for the misprice is investor's unawareness of the intrinsic value of a certain stock.
Interpretation of Current Misprice
To maximize our gain (or to minimize our risk), we want to find those few stocks with solid evidence of its being mispriced. Trading below (net) cash value like CNDO here (more often than not) is a perfect sign, as it somehow indicates that the underlying business creates negative value to the company; or in other words, the company would be better off just sitting on those cash and doing nothing than doing whatever business it engages in. How absurd this statement is in the CNDO example as it is not only tremendously mispriced at current price, but also has a healthy and diversified pipeline with several imminent catalysts due by the end of this month or the beginning of next year.
Any price below its cash, i.e. $3/share, basically indicates that Mr. Market assign NO value to any of its drug on the pipeline or the company as a whole. Last Thursday's announcement of the interim data from autism study is a solid proof otherwise.
CNDO Is Tradable, But Not Shortable
While traders might find it a good candidate for short-term trading (as a matter of fact, last Friday's huge volume and price fluctuation most likely is a result of traders' involvement); at current price, it is shortable in no way, unless you want to get severely burned of course. While occasionally I am a trader myself, I feel it would be very risky to trade on this particular stock as it appears to begin to fill the huge price gap between the current price and its most recent $7/share a few months ago. As far as I am concerned, to trade for a relatively small percent of gain at the expense of losing the most potential of profit is definitely not desirable. My personal observation in the past reveals that a quite number of traders, while enjoying their short-term gain, seemed to forget their ultimate position on the stock, and that is the very big picture we do not want to lose in order to secure the maximum profit. Simply put, it is ok to trade here if you are capable of real-time monitoring; but at the end of the day, do not forget to cover as the upward trend is so obvious here.
Drivers of Stock Price Underneath
For almost all stocks in the healthcare sector, the two most important determinants of stock price are the trial data and cash. Since we are in no position to predict the data to be announced, it is the anticipation of data or the health condition of its pipeline plus cash that drive the stock price. Fortunately, CNDO seems to have both right now. It cash position, once again, is far superior to even some large-cap biopharmas, let alone its peers of similar size. The pipeline also looks healthy and diversified. Aside from autism study, there are several other imminent catalysts due at any time from now. (http://www.coronadobiosciences.com/research-development/pipeline.cfm)
Insider Transaction
The importance of insider transaction cannot be overestimated, especially in the high risky healthcare sector. This is based on the premise (I personally take it as a fact) that, under normal circumstance, no one (no matter how great an analyst you are) knows better about a company than the top management itself does. As investment in the healthcare sector is already quite risky compared to other sectors, monitoring insider transaction become those few extremely informative tools that we can have. Investing without paying close attention to this factor could cause us a fortune. Let's take IMUC again as an example just for illustration purposes. This stock used to be quite popular and had aroused a lot of interest among investors given its huge blockbuster potential of its flagship vaccine candidate ICT-107 in treating glioblastoma. Honestly speaking, I used to be a big fan of it and assigned a large portion of my portfolio to IMUC until 1) I came across CNDO a few weeks back which I saw as much potential, if not more, as IMUC; but most importantly, far less risky than the latter; and 2) I saw a significant amount of insider sales including those done by its founder and Chief Medical Officer (http://www.openinsider.com/search?q=imuc). The result is, I managed to transfer ALL my IMUC holding to CNDO a few days prior to the catastrophic phase 2 data readout and I call myself lucky.
On the other hand, while occasional insider sales by a limited number of insiders convey no meaningful information to the company and its prospect, large and consistent insider buying by the top management is definitely a positive sign that should be taken into serious consideration in one's investment decision. Scrutiny of the insider transaction of CNDO reveals that there have been consistent purchases without any sale since as early as 2011 by the top management including both its CEO and CFO with the purchase price way above current price, mostly in the 5-6 range (http://openinsider.com/search?q=cndo). This is significant given company just went public late last year.
Risk and Short-Term Price Target
In view of above, the only noticeable risk I can think of here, aside from always unpredictable trial results of course, is that CNDO might be subject to relatively bigger swing in share price due to the increasing volume (involvement of traders) and public awareness. Nevertheless, it should not be a concern at current price if you are just like me and stay out of trading unless you are one of those capable of timing the market.
Finally, I know some of you might not like the company or its product at all; but I hope you, as a professional as opposed to an amateur, do not let your personal preference affect your investment decision. After all, the stock moves over time towards its true value, whether we like it or not. As I commented earlier, "Bottom has already been found; upward trend has been established and confirmed; volume is up with growing momentum, coupled with much favorable insider transactions with average purchase price in the $5-$6 range, what are you guys afraid of here??" (http://www.zacks.com/stock/news/116596/can-the-uptrend-continue-for-coronado-biosciences-inc-cndo), CNDO is ready to break out and take back the majority of its previous loss in the very short term. I personally believe the true value of the stock at the very least lies in the $5--$6 range, in line with insider buying. Obviously, CNDO is a strong buy at current level and the opportunity cost for missing here could be huge.
Disclosure: I am long CNDO.
Stocks: CNDO
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I find the treatment results remarkable in that CNDO is able to incite reproduction of this study in dozens of media content starved publications which never were able to write a single word regarding reversing Autism from an administered treatment.
http://www.health24.com/Mental-Health/News/Treating-autism-with-intestinal-worms-20131213
I mean here I totally expected an overbuying operation before the short attack. I am not convinced of the treatment's effectiveness but was convinced CNDO would multi bag on these results until played down by contrary types of studies or at least till more details of the study's outcomes were parsed by investigative skeptics.
With results expected mid 2014 I certainly would hold some position in this company. If this should be successful the current price would EXPLODE!
NEW YORK (TheStreet) -- Coronado Biosciences Inc (CNDO_) exploded on news its pilot study of an oral drug to treat autism was successful. The micro-cap had added 27.5% to $2.27 by early afternoon of Friday's session.
The clinical trial studied the effect of CNDO-201 over a placebo in autistic patients and found a statistically-significant difference in favor of the Coronado-developed treatment.
"There is increasing evidence that immune dysregulation plays an important role in this developmental disorder and we are encouraged by the interim data from this pilot study," said CEO Dr. Harlan F. Weisman in a statement.
http://www.thestreet.com/story/12154820/1/two-biopharmaceutical-companies-moving-markets-on-friday.html
8-K (Dec 13, 2013) Study investigator Eric Hollander, M.D., reports potential benefits of TSO immunotherapy in first 5 patients
“On December 12, 2013, Coronado Biosciences, Inc. issued a press release announcing that Dr. Eric Hollander, Clinical Professor of Psychiatry and Behavioral Sciences at Albert Einstein College of Medicine of Yeshiva University and Director of the Autism and Obsessive Compulsive Spectrum Program at Montefiore Medical Center and Einstein, presented interim data from his pilot study of oral TSO (Trichuris suis ova or CNDO-201) to treat autism at the American College of Neuropsychopharmacology Annual Meeting in Hollywood, Florida. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference”
http://www.sec.gov/Archives/edgar/data/1429260/000119312513472496/d643608d8k.htm
Exhibit 99.1
http://www.sec.gov/Archives/edgar/data/1429260/000119312513472496/d643608dex991.htm
Agreed I got out in after hours at 2.15 not liking what I'm seeing here
Yes my response to him was part sarcasm and truth he claims to go from pink to pink and call scams,, don't believe him... He holds positions ... I can Prove it... So can u.. Check his post list...
I think all long will be O.K. A drug for autism is a good thing and will be very marketable. Trials going well, these bio-techs take patience, I know I'm in a few.....See you all next week!
Yeah I hope next week the shorts eat a dick.
It was rough watching it, but yes, at just we're over 2. Hopefully with the new week it will be all up from here.
Looks like we might rally before close! I've seen it before where a stock completely reverses course minutes before close, so I'm really hoping we see some upward pressure here.
Lol you're right. That made me laugh. Hard to make me laugh when I lost $3k today, but appreciate that.
Nothing worse than a slow death spiral.....somebody shoot me!
He even shorted his own estimation from $125 earlier....LOL
Yes I am trying to find out if enough meat on bone of the sparse data in that study to enable CNDO to own step one in Autism drug discovery universe.
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