Off loading

I have sold the remainder of my APPY (at $1.82) and VTUS (at $3.03). Also sold half of my CPRX (at $3.24). CPRX started off looking like it was going to have a huge day but was dragged down with everything else. I will hold on to the remaining half of the CPRX shares and will probably stay in cash for a while. While one major party in the US is threatening to default unless they can reverse the results of the 2012 elections, cash is probably the best place to be.

Solid day

A nice move of 1.9% today. Particularly pleasant given that the NBI was down 0.4%. The move was driven by a great CPRX performance. It closed up 6.4%. I am now up 44% in this position. I was tempted to unload some today but it looks like it might keep on going so I will hold for a while longer.

At present I am 46% cash, 31% CPRX, 14% VTUS and 9% APPY.

CPRX

Quick update

Difficult day for the market with the NASDAQ down 0.25% and the Biotech Index down 1.1%. This portfolio was down ~0.6% – perhaps due a rest after four consecutive up days. Currently holding VTUS (up 3%), APPY (up 44%) and CPRX (up 24%). VTUS and APPY are small positions as I have previously exited 50% (both on 9/11).

VTUS is certainly disappointing in that I exited the first 50% at $3.45 and the price has rapidly come back towards my entry level (closed today at $2.70). On 9/11 it traded as high as $3.72. I am continuing to hold though. I am reasonably confident in the ultimate results of the pending phase 3 trial and it seems likely that if the PK/PD trial results were able to inspire a 40% spike, the P3 results should be all the more significant; Hopefully the stock will see some price appreciation ahead of time. It is certainly unfortunate that the trial data release seems to have been pushed back a few months.

 

 

VTUS pop

Quite a morning for VTUS. My entry timing was pretty good! Huge volume and a 33% jump in price based on an announcement of safety and pharmacokinetic data required for the eventual (hopefully) NDA. I just off-loaded half of my position at $3.45. Will hold the rest and see if the momentum continues.

Two new positions

This afternoon I have added a couple of stocks to the mix. I bought a position in VTUS an $2.62 and a position in CPRX at $2.32.

APPY fell sharply today after a nice run from $1.42 to $1.77 in the last week. My portfolio was also down – time for a bit of a rest after 8 consecutive up days.

Down to one position

ZLCS popped this morning in the pre-market. I think it got as high as $0.98. I decided to take advantage of the strength and got out just after the open at $0.91. I had been in this one since August 8th when I bought it at $0.71. It was a rough ride as it dropped as low as $0.56 the following week. I was very happy to be able to exit up 28% on the position.

Yesterday I dropped my position in IPCI. I sold it at $1.91 for a 9% loss. I was wary of this from the start – and took a smaller position than I usually do. Once in it, I found that I did not really feel like hanging on to see if it could regain its recent highs.

APPY had a nice move today closing at $1.56. In late July it broke $1.60 but fell back quickly. I am up 22% on this one and hoping for a bit more. Just greedy I suppose. APPY is developing a diagnostic blood test that will help to assess children presenting with abdominal pain – specifically it will aid in ruling out a diagnosis of appendicitis. Very small market cap with an expectation of further data from their pivotal trial over the coming months.

APPY

 

Added IPCI

Bought IPCI this afternoon at $2.11. Potential to move on news of its various ANDA candidates. It looks like it is breaking out today so I am going to see where it goes. I am a bit wary of this one and will therefore be taking a smaller position than usual. It does have the demonstrated potential for sudden, gravity-defying moves.

IPCI

Out of BIOD

I sold my remaining BIOD today at $4.73. I was really trying to avoid a repeat of my experience with DCTH earlier this year. In that instance I sold my initial 50% at +53% and the remainder at +6%. Not sure I did all that better with BIOD – the first 50% saw an improvement of 115% on the purchase price. Today’s sale of the remaining 50% yielded a 75% return. Can’t complain too much about the combined 95% return – but I wonder if there is a way that I can better protect gains.

A fairly ugly day all round. Everything I am looking at is red. ZLCS collapsing a bit in the afternoon after a flat morning while APPY has lost the decent gains it was showing in the morning.