North American Vaccine Message Board

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Biotech / Medical : North American Vaccine

NVX 1.133

-16.7%

Jan 16 3:59 PM EST

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To: Don W Stone who wrote (322)	3/15/1998 11:24:00 PM
From: Rick Strange	Read Replies (2) of 507

Between S.E.C. filing dated 2/12/98 and 2/20/98 Denver Investment Advisors reports owning 1,218,400 fewer shares or 41% of their position reported 2/12/98. Prior to the 2/20/98 report Denver Investment Advisors was NVX's largest institutional shareholder (previously touted by some as smart money). I suggest that recent price weakness is too many long shares headed for the exit at the same time rather than new short positions. A thin market is a knife that cuts both ways.

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