Actually for the last month MANY bios have underperformed not just MNTA - but many of those were up significantly like JAZZ, SVA or SPPI (just examples)and I can chalk it up to profit takign and natural pullbacks from extreme overbought conditions.
I don't think MNTA was extremely over bought when it was around $12 - it was a bit extended - but in a market where most names were +500% off the lows - it wasn't even a blip in that sense.
And you are right - last year it held a bid when everything was in the toilet. It actually seems to have an inverse correlation if you put it in that context.
For some reason AMAG has been in a similar situation but it peaked on FDA approval and has sold off nearly 50% since, so atleast I can explain that - but the hype/rumor and sell the news.
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