The drop on high volume is a bit concerning and to some degree it reminds me of the wild trading last year when the stock hit all time highs. On the other hand, biotechs were not as strong as the market today and volume was high for a lot of stocks. In the past 3 months, Halo has outperformed XBI. In the past 5 days or so, it's been the opposite. It seems that investors hope Merck will acquire SGEN and then things will heat up. They are already looking for the next acquisition targets and I am afraid halo is not high on that list.
Overall, I guess I feel that we need some more good news and a couple more analysts to raise their PTs before we hopefully hit new highs. Time will tell!
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