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Biotech / Medical : Microcide Pharmaceuticals (MCDE)
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To: Czechsinthemail who wrote (59)5/29/1997 1:47:00 PM
From: scaram(o)uche   of 186
 
Baird:

Institutions and funds bailed, most often without rationale, from biotech at the end of the first quarter. Some were just naive, and some were trying to front-run the problems at Amerindo et al.

As Jim Silverman (Risk/Reward Capital Mgmt.) says, take a look at the recent charts for IDPH and SANG. These companies are rebounding from precipitous drops that occurred without explanation. Fund managers are generally (1) uneducated with respect to the value of an established research team, (2) uneducated with respect to the potential value of patents, (3) focused on short-term results, and (4) further uneducated just for general principle.

I have total disdain for the mix of institutional investor and biotech, to the point where I often use institutional sales as counter-indicators. Total disdain. Complete disdain. No respect whatsoever....... nada, nichts, and zilch.

Hope you're not a fund manager. :-)

I'm certain that you can find an answer to your question from either the company or from Edgar filings.

Cheers! Rick
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