John,
"Too quiet here for the BS put out by a dinky broker that caused a major swing..."
It's always good to blame analysts, but Alan Auerbach is innocent this time.
CFO resignation is always unpleasant, Wall Street does not like it at all.
There are traditional ways to inform shareholders (and analysts!) about such events and "the manner by which it was released to the investment community" in this case was not perfect at best. Do you really like to learn about your Company CFO resignation from another Company PR?
Alan Auerbach was always very kind to IMNR, may be too kind, and you can see what kind of situation IMNR created for him. But that's his problem.
Regarding recommendations, I prefer aggressive hold.
BTW, don't you remeber the latest parade of 144 forms? Now CFO... Last year I learned that biotech is about rodents and sheeps (or may be ships? Oh, my spelling...)
Biotech, especially startup, should be very careful about messages that mngt is sending to investors by their moves. In the majority of cases investors have no idea how trials are going and consider insiders as the best informed, and so insiders activity is considered as the best indicator available.
So add to all of that latest published RA data, controversial opinions about Remune technology, some strange price fluctuation, PRs and rumors in the past and you may see that market reaction was rather minor. Today was very bullish day, however. |
