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Biotech / Medical : XOMA. Bull or Bear?

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To: Robert K. who wrote (8209)1/6/1999 8:39:00 AM
From: opalapril  Read Replies (2) of 17367
 
Anyone of the view that yesterday's volume could be due to some investment fund taking/adding to its position? I understand there are a number who habitually establish a long position shortly before FDA committee recommendations are made. This would make more sense to me than individual investor action based on Murphy's comments or the press release. As I recall, we had a similar spike in volume late last summer or early fall, and shortly afterwards it was reported the percentage of institutional ownership had increased slightly.
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