For what it's worth, I followed the Baker Brothers in and of SPHS last fall, with some success, l and have been looking for a re-entry point. I think the share price is still a bit high: with a market cap of 76M and only about 20M shares outstanding, it only has institutional holdings of about 6%. Compare it to MSTX, for example, which has about the same market cap, but has almost 4x institutional holdings, even thought its share price is about .40. To me, this is a huge red flag, especially since the share price of SPHS makes it eligible for fund holdings.
Why is this the case? I have no idea, maybe it's a bottom line thing and the big boys expect some dilution down the road? With a great product and low number of shares there seems to be a problem. Not good management? Again, no idea, but the idea that this, or any other stock, is "under the radar" in this day and age is simply not possible.
I see the next stress point at 3.98 which is a 38% retracement from the high and has indicated some action in the past, then 3.38, then 2.78, which has also shown some action. I think that's where I would re-enter and hope for the best. GLTA/
