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Biotech / Medical : Texas Biotech (TXB)
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To: sam who wrote (266)8/6/1997 4:49:00 PM
From: Ken Crooks   of 834
 
I'm baffled at the movement today. Can't see the logic which leaves the stock lower than it was at yesterday's close.
Though TXB is only about 18% owned by institutions, did the move above 6 trigger automated decisions?? Was the stock punished because the SK Beecham deal could have been better than it is? After the initial up and back, the rest of the day seemed rather directionless.

Despite not understanding the action, I increased my holdings when it returned to 5 15/16. I take the SK B contract as a vote of confidence in the success of the FDA filing.
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