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Biotech / Medical : Paracelsian Inc (PRLN)
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To: richard davis who wrote (1643)2/10/1997 11:12:00 PM
From: WWS   of 4342
 
News on PRLN after market close: Traveler's increased their position in January to 2.4 million shares total, about 22% of total. Their accumulation must have accounted for much of the recent action on Mark Johnson's volume indicator. Traveler's must have been quietly adding to its position at prices below $2, for some time and in fairly small increments. I would bet that they'll consider some of their shares to be a "trading position" as opposed to long-term hold. But why would Travelers be acquiring if not in anticipation of near term increase? This leads me to believe that PRLN might release some new, and positive, clinical results in conjunction with the upcoming S/B conference. Today's patent application, while nice, is NOT sufficient to account for Traveler's increasing interest, IMO.
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