Pretty simple, someone decided to buy a few shares for a change.
This stock was expected to be about $15 right now when the details of the Novartis deal were announced a year ago.
Since then, nothing bad has happened (except the small secondary) and all remains well. Yes, the 4 Ph2 trials did get pushed out a tiny amount (about 2 or 3 months) but for that the stock was wwwaaaayyyy overly punished.
CNAT is now only a few months away from the first results trickling in.
CNAT has now likely got tax loss selling behind it.
CNAT short interest is about 1.6mil shares - a significant number.
Look what mdgl did a week or two ago. CNAT will go up $30 in a single day if the first results are encouraging.
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