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Biotech / Medical : CNSI Cambridge Neuroscience -- Ignore unavailable to you. Want to Upgrade?

To: Cheryl Galt who wrote (636)	3/2/2001 5:14:59 PM
From: Cheryl Galt	Read Replies (1) \| Respond to of 675

BVF --> Merrill, Note on Feb 15, in The Guardian: Market professionals reckon CeNes Pharmaceuticals (LSE: CEN.L - news) (CEN), the company that develops drugs for the central nervous system, is a "charting buy". CeNes shares fell 10p to 49p yesterday after Biotechnology Value Fund revealed it had sold its stake in the company, some 5.8m shares. According to traders, the fund did not sell the shares on the open market but offered them to stockbroker Merrill Lynch, which grabbed them at 40p each. Merrill then proceeded to try to unwind its long position by offering them for 47p, a 12p discount to Tuesday's closing price. When Merrill finally clears the stock overhang, dealers expect the shares to bounce back to 60p, the level they have held for the past few weeks. ------------------ CEN.L closed today at 53.00p