CNAT—There’s no simple answer to your question about whether to hold. (If there were, there would be no stock market!)
As noted in a recent post, I trade less than most biotech investors and generally hold positions for a few years. Even after today’s pop, CNAT has a tiny EV and it remains a high-risk/high-reward stock, although the risk is somewhat less than it was before today’s news.
In addition to having data readouts in three additional phase-2 trials during 2015, CNAT will almost certainly have to raise capital before the end of the year. So, there are several market-moving events on the horizon.
All told, my CNAT position is small enough that I’m comfortable holding.
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