Biotech Values

[quantumdot]

ALTH - >>hedge funds were waiting for this to fail so they could buy the pipeline<<

I don't buy it. If hedge funds thought it was worth $6.75 a share for PDX then why have they not been buying it in the low $5s over the last month. Further, any hedge fund trader worth his salt would have not bid it up on the open after the lead drug failed! They would have tried to instill some retail fear by selling short/selling. In fact, by definition if you are "waiting" for something to fail so you can buy the pipeline you are aiming to buy the pipeline cheaper! Something doesn't smell right in Allos' trading today that is for sure, but I don't buy that this is some kind of rally to buy the pipeline that could have been bought far cheaper over the last 6 weeks.