AMRN recovers (slightly), CRIS breaks through

I still have not read anything to explain the sudden, early drop in AMRN’s price. It did recover nearly all of its loss during the day but gradually fell back again to close down 3% at $8.07. Apparently large blocks of shares were going through so perhaps it was a fund dumping its holding. If that is so, it does illustrate one of the problems with the small biotech stocks – their inherent illiquidity. AMRN is actually reasonably heavily traded with a current 3-month average volume of ~2.5M. But for a fund that has built up a decent sized position, that may not be enough to cushion a rapid exit.

In other news, CRIS managed to close the day above the $4.80 level that it set at the start of the year. Plenty of room at the top of the chart for it to keep moving.

ASTX also finished well, closing at $2.22. I think that it should do well if it can manage to get through the 200 day MA.

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