Yes, in general terms I do. I believe that hedge funds work together and collaborate when they have a target they attack or run a pump on. This is not a controversial position, or shouldn't be. It has been reported on by a number of sources. Jim Cramer pretty much laid this out in his Aaron Task interview from 2009.
I most certainly believe that the shorts in ADXS have pretty much controlled the PPS since July 2015. I also suspect some of the biggest shorts owned the most shares, in essence shorting against the box.
In fact, taking part in a Biotech offering and then shorting against the box might be the most lucrative strategy in Biotech today. If I ran a hedge fund it's what I would do. It's a way to make huge profits while waiting 2-4 years for a biotech to reach Phase II or III and get sold or commercialize (assuming they even get that far).
And I suspect Adage did it with ADXS. Possibly others as well who participated in the original offerings.
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