I'm staying, for now.
Why?
Well...... back in January, Lehman brothers downgraded GENE to V2-Venture and reduced their 12 month target to $11. This was because of slow progress in GENE's drug discovery efforts.
Since then, things had been pretty quiet, before June.
On June 2, GENE announced an alliance with ARQL.
On June 4, GENE announced a milestone in their Asthma Alliance with SGP.
On June 15, GENE announced an extension in their alliance with ASTRA.
On June 26, GENE announced that their Chief Scientific Officer left.
On June 29, GENE announced Scriptgen Becomes the Fourth Subscriber to the PathoGenome(TM) Database
With this much activity, it keeps me interested enough to stay put, and possibly increase my holdings.
The Biotech sector is a very volatile sector, with huge mood swings. Lately, it would've been more fun to soak in a tub of boiling oil, rather than to be holding biotechs. It sure would be nice to finally see the bottom of this downward movement, and head back up!
Good luck, Bob |
