Humanigen Inc (fka HGENQ)

[DonDonDonDon]

institutions don't sell names to buy them back in 30 days

Obviously, institutions don't. But individual investors do. A short term capital gains tax of 22%-37% plus state taxes is daunting. Anyone with big gains in other stocks, which includes many in 2021, would be tempted to harvest the HGEN loss regardless of how they feel about HGEN. Also, many weren't sure that $6 was the bottom. So the safe thing to do was sell to substantially lower their 2021 tax bill and buy back a 31 days later after the dust settles. Many made this decision within an hour of waking up on 9/9. Taking the safe course of action is natural for someone who just felt the trauma of losing 5 or 6 figures overnight.

We will find out next week. Proof is in the pudding. I believe today's premarket price of $7.10 is a preview of things to come next week.