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So we don't get the info until Monday 6pm? So Monday could easily be another green day regardless of whether the info is good or bad.
Just a hunch on the $2 number, this went down to about $1.20's so hopefully some averaged down and now that it is rebounding recovered some losses. but it has been my experience that people sell into news
So far the ASH buzz has been a positive for the stock...4 days of green this week and a green opening. You think there will be a sell off around $2.00? For as many who are in the red on this one, do you think they are just recouping losses and getting out? What are your thoughts?
nicmar what is the logic behind your post? don't you see any potential in this stock. I thought that ASH this week is suppose to be a positive for this stock. and it not even back to where it was before the selloff IMO I think we see the $2 level before the news selloff. Big
Six- so far so good slid a bit and recovered. Ok with me.
I don't think so woobee. Won't see $1.80, much less hold $1.60. :) mo .. nic
ASH should be a huge opportunity this coming weekend.
$1.80 today? If they get a partner this could triple.
Off to a great start again today. Hopefully, the MM's allow this thing to get back to where we should be.
Nice day up 9%+++ wish I got twice what I bought when it was 1.21 but I will take any gift. "If wishes were horses beggars would ride"
My only complaint is that I was late to the show. Bought in at $1.25. Still a little on edge with the volatility.
What a gift last week was. I was able to get back in, sell some covered calls on part of the position, and use that pocket change to get a few more shares. Even my DRIP bought in at $1.11 last Tuesday. No complaints here.
I like the way you think. Back to green today. Perhaps just an F*** job candle before a run to $1.80 at the end of the week?
almost green now. I want to see $1.80 by Friday close.
Still no filings for a new share holders or a sold out one.
Was a big holder really selling or just pushing it lower by sellin and buying the position back as to not change the percentage of its holding? I think we might go higher today.
Well...shows what I know. Not the start to the day we were looking for. Did I miss something?
A few more days like yesterday and this thing is back to where it should be. ASH is coming soon, I see no reason for things not to stay positive here.
Agreed. ASH next weekend is a very big deal.
http://www.hematology.org/Meetings/Annual-Meeting/
I'm thinking we'll be green 4 out of 5 days this week.
Finally! Looks nice and strong.
Broken and Rising! Can we hit $1.50 today? Hopefully we can continue with this trend!
Thanks mukh6, added as a sticky!
YM Biosciences – Friend or Foe
http://www.philstockworld.com/2011/11/29/ym-biosciences-friend-or-foe/
Same here, rare
There not making the call on ym a easy one. The MMs are keeping it pinned and theirs still no filing about any large seller or buyer.
Hgsi also was a major up and down shaker before the real move higher came and ym is showing the same type of gaming.
I'm still holding a long position, cheers.........rare
whats going on with this one? all day 100 blocks hitting the bid, just a sea of sells all over the place, then the last 45 minutes, huge buying and still they tried to bring it down again, but we still gained a few, anyone have a clue, could it really be a hedgie or two unloading? with the kind of trades going through?
yes last 45 minutes were very encouraging for me.
the buying got dam crazy in the last 45 minutes or so, very nice
Good day today! Hopefully we can keep this going two days in a row. Hoping this stock gets back to where it should be soon.
What makes me wonder is why no new filings from the seller or buyers in the last week. Could be they sold and bought and never really changed there share percent enough to need to file a 13a/d
Maybe they just washed it down to get a better price.( a retail spin cycle) Remember what they did with hgsi...ran it to 1 dollar 3 months before phase 3 trial results then after the results went to 38 bucks! See it many times....imo
The CEO could have kept his mouth shut. Instead he said everything is right on track and they look forward to presenting new data. Sounds good.
Looked like there still was allot of sellers that came in yesterday on ymi rally, then crushed it. Its in my opinion more then one or its the biggest one. Still long but wondering did i make a mistake on this one? Funny thing is theres been no sec filling about that selling or buying. Could it be there washing it lower to get a cheaper entry. Basically selling and buying at the same time flushing out smaller players and lots of retail?
I agree 100%....a $6 stock in a dollar wrapper!
Hopefully we can get a little short squeezing here.
Love that kind of opening!
These prices are a gift from that hedge fund that was forced to dump. I think it will go back to $1.80 soon, maybe even higher before the new posters are revealed.
Drugs
YMI ... WTF?
By Adam Feuerstein 11/29/11 - 11:36 AM
Stock quotes in this article:YMI, INCY
ONTARIO, Canada (TheStreet) --What or who is responsible for the big-time selloff in YM Biosciences(YMI_)?
Beginning a column with a question is lame -- I'm supposed to be providing answers, after all -- but in this case, nailing down an explanation for why YM Bio has shed 33% of its market value in the past week is proving very difficult. [YM Bio shares were up 3 cents to $1.14 in Tuesday trading.]
The volatility in YM Bio is particularly unnerving because new and important clinical data on the company's myelofibrosis drug CYT387 is scheduled for presentation at the American Society of Hematology annual meeting, which runs Dec. 10-13.
CYT387 is a controversial, at least by Wall Street's standards, due to early data presented last spring suggesting the drug may be effective in treating anemia associated with myelofibrosis. That's something Incyte's(INCY_) Jakafi, which recently won FDA approval for the cancer-like bone marrow disease, cannot do.
Incyte sports a $1.5 billion market valuation thanks in large part to Jakafi's commercial potential. But if YM Bio's CYT387 is a superior myelofibrosis drug, even being two or three years behind in development, the company's $132 million market cap makes it hugely under-valued.
Yet YM Bio shares are tanking. Here are three possible explanations, in order of plausibility, culled from various discussions with investors and other sources over the past few days. I have nothing confirmed but the truth probably lies somewhere below:
1. A large hedge fund is being forced to sell YM Bio (along with other low-conviction long positions) after being caught short in Pharmasset, which obviously skyrocketed in value when Gilead Sciences announced the $11 billion takeover.
Yes, I've heard the name of the hedge fund allegedly forced to sell YM Bio shares, but I can't confirm so I won't share. The top-five hedge fund holders of YM Bio at the end of the September quarter were (in order) Healthcor Management, Baker Brothers Advisors, Balyasny Asset Management, Discovery Capital Management and Deerfield Management.
The high volume of YM Bio shares being sold, including 7.6 million shares on Nov. 22 and 3.7 million shares Monday, suggests the forced seller is likely to be one of the hedge funds listed above.
2. Forced selling begets panic selling. No one on Wall Street wants to be last guy holding the bag, so when other investors see big blocks of YM Bio stock being sold, they figure the seller (whoever it is) knows something bad and they start selling too.
So, what might have started out as a relatively small downsizing of a YM Bio position by a hedge fund needing to raise some cash turned into an avalanche of paranoia-based selling by a much larger group of investors.
The fact that we're about two weeks away from a really important CYT387 data presentation certainly would have stoked fears that something with the drug was going wrong.
3. The upcoming CYT387 data are going to be bad and someone knows it. I've been told that YM Bio doesn't even know what the new CYT387 data look like yet, so I'm skeptical about the idea of a leak. However, it would be foolish to disregard the scenario entirely. We all know that Wall Street investors have, in the past, figured out ways to get doctors talking about things they're not supposed to share.
"Most likely, either someone knows something, or the market is worried> that someone knows something," says Monness Crespi Hardt analyst Avik Roy, succinct explaining the sick and twisted logic that pervades Wall Street.
Those are my three most plausible explanations for the weakness in YM Bio. If you have a better idea, please post a comment below.
Some of the selling could be tax selling. Just about anyone in it has a loss.
YMI: got an email reply back from the vice president of the YMI regarding price action in the stock.
THIS IS WHAT HE HAD TO SAY.
Quote:
--------------------------------------------------------------------------------
We have no idea why our stock is under such a large amount of pressure lately and can only speculate as to the cause. Like yourself we find it very frustrating, particularly as nothing at all has changed at YM to cause this. We remain enthusiastic for the prospects of our lead drug CYT387, for which we will present updated data at the ASH conference on Dec 12.
Regards,
James
--------------------------------------------------------------------------------
James Smith, M.Sc.(Eng)
VP Corporate Communications
YM BioSciences Inc.
5045 Orbitor Drive
Building 11, Suite 400
Mississauga, Ontario L4W 4Y4
What says all you level 2 gurus about the price action today? TIA
I hope they do! lets see what comes out of cave. Biotechs investing in not easy for sure!!
Might be but then the have inside info. Why take so much risk with phase 2 trial results due in such a short time. YM has had 11-12 million volume he last week, that would be one big short postion.
What ever the case, i imagine the SEC is looking into it.
Rarefind, dont get me wrong i am invested in this stock, but how can you or anybody like AF say for sure that a fund is dumping becuase of VRUS, what if somebody is shorting big time.
Truth is there is a fund or more selling shares. Thats not in the past week close to 10 million shorts piling in. Someone wants out, the question is why not if.
I guess I can only hope for the best at this point. I thought she looked pretty oversold and the drop could not keep up...Hoping for a rebound.
TUTH is nobody knows....... if some people are shorting than its bad as big shorts dont cover so fast. we will see, still holding.
It can only be a fund or two or three that are selling as the bears smell that blood and feed on it. How ever you look at it, it stinks.
If its a forced seller due to a margin call then ymi will rebound if its selling because they want out, shes done!
Rare- Thanks for the thoughts. I think you are on at least one other board I follow in the hub. Good to see a familiar face...well, name anyway.
Lots of fear around ymi and no real answers. My guess is a large fund or lots of the smaller ones are again getting margin calls and are forced sellers of shares. I'm just guessing, price action is all fear..... Have heard of no news or analysts downgrades but maybe one is coming and they got the usual heads up.....
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YMI BioSciences, Inc.
CYT997 has completed two Phase I studies in advanced solid tumors and is currently being studied in a Phase II clinical trial in combination with chemotherapy in patients with relapsed glioblastoma multiforme. Results from the intravenous Phase I dose escalation study were published in the British Journal of Cancer (Lickliter et al, 2010), and demonstrated clinically meaningful disease stabilization in the majority of patients treated. Data showed that CYT997 administration was associated with changes in plasma and imaging biomarkers consistent with vascular disruption in tumors. Magnetic resonance imaging showed significant changes in tumor perfusion consistent with vascular disruption in some patients. Data from the Phase I oral study of CYT997 in patients with advanced cancer were reported at ASCO 2009 (Francesconi et al, 2009).
2011 2nd Quarter http://www.ymbiosciences.com/upload_files/YM_Q2_2011.pdf
2011 3rd Quarter http://www.otcmarkets.com/stock/YMI/news
2010 Annual Report 10-K http://www.ymbiosciences.com/upload_files/YM_AR_2010.pdf
Website http://www.ymbiosciences.com/
Yahoo Finance http://finance.yahoo.com/q/h?s=YMI
Google Finance http://finance.google.com/finance?client=ob&q=YMI
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