I'd argue that share price is not necessarily linked to intrinsic value, particularly with a stock in the startup space that has for years attracted the attention of aggressive short sellers. I do not believe in the theory of a cabal, though I do acknowledge there are a few rogue actors who wish to see Anavex ruined -- at this point it almost feels personal and a point of pride, as much as it pains the Adam Feuerstein's of the world who never imagined we'd be finishing P3 trials back when he said that Blarcamesine is as effective as a few cups of coffee.
I believe Dr. Missling when he says that right now with regards to the AD trial there is nothing to report. If we are waiting for peer review, it could take some time. It took a little less than a year for another one of my stocks -- that trial concluded in 2022 and we just got JAMA publication in June. Journals like to present new data, so it makes sense that Dr. Missling is waiting to release a PR until a peer-review is complete. Or it could be that he knows he only has one crack at the FDA and he wants to be 100% sure he can back up any questions or criticisms that the FDA may have. More data would be helpful. As long as one believes the top-line data is accurate, it should be all good. And of course, if the data weren't good, the company has 4 days to report any material failures to the public via SEC notice. The fact we haven't seen that, nor have there been any law suits, is a good sign.
As for the hedge fund managers, even if the company is a small piece of the overall portfolio, investors are paying these managers to actively manage all securities. If one turns out to be a dud, that happens, but if there are obvious signs of malfeasance it would expose these funds to potential liability
