Immunex Message Board - Msg: 7547358

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Biotech / Medical : Immunex

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To: Buckeye who wrote (298)	1/29/1999 4:04:00 AM
From: synchro	Read Replies (2) of 656

It is a little curious how with the stock vaulting more than a hundred dollars a share since the fall there's virtually no following around here for the stock. Who do you think are jerking the stock $7 up and $9 down? Institutions? I have a feeling it ain't the Yahoo/Amazon crowd. Perhaps there simply aren't that many shares floating out there and the mutual fund herd is desparate to buy this thing. A thought about supply and demand: With all the internet craze out there, Wall Street has been more than happy to oblige in shoveling out more IPO paper out the door to feed the seemingly insatiable demand. The same can't be said for Biotech. I think there're still plenty of people out there who got burnt back during the '90-'92 Biotech crash that they are still swearing off this sector. This is in spite of the string of positive news coming out of the biotech sectors. And I haven't heard a big Biotech IPO out there in a long time. A bullish sign? From the way the four of the Big Five are behaving (Amgen, Biogen, Genzyme, Genentech), it seems like the institutions are still quietly accumulating after three months of activity. The sole exception being Chiron.

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