Follow on to below copied post from May 31.
"Look at this a little different. 30th and 15th are settlement dates. 25th and 12th are trade dates for shares shorted. Close on 4-25 was $5.85, close 5-12 was $5.33. Over 508K net shorted over 11 trading days and drop sp $0.52. Over 46K average sold short each day with average volume around 236K. Considering that reported volume is always much higher than actual shares changing hands, the short increase was huge and clearly the only reason the sp is held down. How many more shares were shorted between 5-13-27 below $5.49 with average volume around 200K for 10 trading days in period? The more shares shorted at lower prices the lower the trigger to cover. Mr. Kirks buying triggered some covering but the movement was not enough to affect major short position over $9. As posted on several occassions, shorts control sp until big news hits to break their control.
Institutions continued to add in a big way in Q1 and there is no reason to believe they have stoped. Institutional interest has increased every Q for over two years. Shorts and retail are only ones net selling and imo retail selling is slowing.
Sp is wound tight and ready to break any day. Inclined to think it will break up. Several PR's expected in June and hopefully some unexpected. Being short in a big way under $6 can not be a good feeling."
Short interest for latest report period, 5/13-27/08, increased by 283,000 shares to 7,500,262. Total volume was 2 million traded with average volume of 200,000 and 28,000 shorted per day. The sp dropped $0.26 for the 10 days, from $5.33 at close on 12th to $5.07 on close the 27th. The trading range was $5.49-4.86. Today was last trading day in this period and the close was $5.46, up $0.39 for the 10 days with the volume just under 3 million. The next report on the 24th will be very interesting. Did the shorts shake out enough retail to cover any or did they short more to prevent the break-out. My guess and only a guess is short interest will be close to 8 million and were unable to hold price down.
The Phase I Cheetah data was absolutely fantastic!!! This potential mega-blockbuster could be to market by 2012 with total developement cost under $50 million. A lot of questions with this one. What would a partner pay to get in on NDA for best in class Humulin/PH20 for fast acting insulin? What would owners of Humalog or Novalog pay to partner on co-formulation to prevent losing market, establish best in class analog, extend patents? This is why Dr. Lim sounded so confident when asked about analog patents, if they do not partner they take a big chance losing out to co-formulation of off patent Humulin. If a deal is made and regardless of which one, it will be HUGE for Halozyme. Of couse the greatest long term gain for shareholders would be to go it alone with Humulin/PH20. Hard to believe no discussion about Cheetah Phase I on this board. The shorts have to be in a pucker with Cheetah potential for partner.
Oh, BTW, top rated funds, mostly Vanguard added 164,000 as of yesterday. Shorts still selling to top rated funds and institutions?
Never argue with a fool, for after awhile, it becomes difficult to determine which is the fool.
Never argue with a fool, for after awhile, it becomes difficult to determine which is the fool.
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