posted
I got in this just before the close at 6.50 yesterday. Was down like 60% on news that the FDA was doing a safety review of one of their drugs. Company basically PR'd after hours that it's just a review and doctors are not being asked to stop prescribing it and they are confident that there are no safety issues. (This is my interpretation, which may be wrong, of course).
Up to like 8.50 pre-market. Wonder if it will be able to get back to the $14/15 range from before yesterday. That would be sweet!
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Who do u trade with PC i am trading with ameritrade and can't seem to make any progress ... i want to follow the chart of 3%
Posts: 6 | Registered: May 2007
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posted
I use Choicetrade. You can only follow the 3% chart if you can get good enough to consistently get 3%. Much harder than it sounds.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
I doubled down on BMTI at $8.50. Had an order in at $8, but wantd to go grab some breakfast so I moved it up to 8.50 to make sure i got the shares. By the time I got breakfast and came back it was at like 7.75. Whoops.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Deutsche Bank reiterates its Buy rating and $22 price target on BioMimetic Therapeutics (Nasdaq: BMTI).
After a 56% sell-off yesterday related to an FDA announcement that it would be conducting a safety review of Regranex in regards to a link between the product and cancer death, the firm believes investors have overreacted to the news. Deutsche points out that it does not expect any material impacts that could affect BioMimetic's clinical program.
The firm notes two key differences between BioMimetic's GEM OS product and Johnson & Johnson's (NYSE: JNJ) Regranex:
Regranex is for chronic use (~20 wks in Regranex’s clinical study) vs. acute use for BMTI’s GEM OS line (1x during surgery).
The amount of drug exposure is significantly higher with Regranex than with BMTI.
Additionally, Deutsche has found that "Regranex does not appear to increase the incidence of cancer and the higher death from cancer with Regranex is confounded by the very small number of deaths."
BioMimetic Therapeutics, Inc. engages in the development and commercialization of bio-active drug-device combination products for healing musculoskeletal injuries and diseases that include periodontal, orthopedic, spine, and sports injury applications. [BCS]
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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It's also up about 3% from my second buy this morning. Typically I'd take that and run, but I do believe this has more upside, give the price it was trading before yesterday. Although I've been known to be wrong regularly, so don't listen to me
quote:Originally posted by stgeorg2: not moving much
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Sorry dude. For future referece I would definnietly not recommend getting in a stock that's already up over 40% in one day. Limited upside and a lot of downside. I'm in from $6.50 and $7.50 average, so a swing back down as far as 8.50 wouldnt' really bother me, but it would probably be enough to shake you out.
Best of luck to you though.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
I'm right here, and it's near lunch. Oh, you mean in the stock price? nevermind.. Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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Nope. Comfortable holding still. Obviosuly if I knew it would drop this far I would have sold and rebought, but I'm holding for a while still. I haven't found a reason yet for this to not be at $13-$14 again soon, so I'll probbaly hold a couple of days if need be. Unless, of course, some new news comes out. Basically it's down 35% from yesterday, basically on news that there may be a link between their drug, which is a one time application, and a drug used for chronic conditions. I don't think thta warrants a 10% drop, much less 35%+.
But like I said, I've been wrong plenty of times.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
How much difference would it have made? .05 x # of shares is probably not that significant, I would imagine. I get burnt trying to time the exact bottom all the time
quote:Originally posted by lostone: dang it, was gonna change ask from 8.6 to 8.55, but got filled.. and hit 8.53 lol
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
it's a better feeling knowing that i got the bottome price that's all..lol.. but this one has that 10+% intraday flux so i'd figure good for day traders.. but yea, i agree with the hold til the 12+
-------------------- lostone Posts: 2666 | From: san jose,ca usa | Registered: Sep 2002
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posted
It's interesting reading the Yahoo message board, where some people are still yelling that the FDA is investigating their drug, when they are not. I thought it was obvious enough that they are investigating a different drug from a diferent company that is administered in materially higehr doses, but apparently some people don't know/care...
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
I just sold during this drop. Got too close to 8 for my liking, and didn't want to risk losing all of my profits (make $3K in basically a day, down from almot $6K earlier today). I'll be watching for re-entry though if it pulls back much below $8, but I am god-awful at playing things a second time around. Hope it bounces back for ya, lostone!
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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Yeah, and someone on the yahoo board just threw out somethign like "They've lost a ton of money on this drop, bankruptcy could be next!". I'd like to find those people and smack them around.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
yeah, I also wanted to free up my cash in case I get a new form 4 signal for Monday. It's already back to 8.45 now, and moving up quickly again. guess I got shooked out Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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Nice lostone, hadn't seen that. If they're buying in the $9.00s it shoudl have room to go up. (After thinking about this one the other night, I got back in yesterday for 3000 shares got in much higher than I sold last week, and much higher than I could have gotten in today..., but I'm comfortable taht this one has good upside still. I defintely panic sodl last week, which is unlike me.)
2008-03-28 Purchase 2008-04-01 1:05 pm BIOMIMETIC THERAPEUTICS, INC. BMTI FEDERICO CHARLES (Director) 1,075 $9.245 $9,938 1,075 (Direct) View 2008-03-28 Purchase 2008-04-01 10:54 am BIOMIMETIC THERAPEUTICS, INC. BMTI Lynch Samuel Eugene (President and CEO Director) 5,400 $8.951 $48,337 1,186,561 (Direct) View 2008-03-28 Purchase 2008-04-01 10:52 am BIOMIMETIC THERAPEUTICS, INC. BMTI MURPHY JAMES G (Director) 5,000 $8.4 $42,000 8,000 (Direct) View 2008-03-28 Purchase 2008-04-01 10:51 am BIOMIMETIC THERAPEUTICS, INC. BMTI Friedlaender Gary E (Director) 8,500 $8.994 $76,446 9,300 (Direct) View 2008-03-28 Purchase 2008-04-01 10:50 am BIOMIMETIC THERAPEUTICS, INC. BMTI Douglas Earl Martin (General Counsel) 1,000 $9.05 $9,050 6,493 (Direct) View 2008-03-28 Purchase 2008-04-01 10:47 am BIOMIMETIC THERAPEUTICS, INC. BMTI BULLOCK LAWRENCE E (Chief Financial Officer) 10,000 $9 $90,000 22,135 (Direct) View
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
glad to have u back.. we can sit and wait together! lol.. i wish they would PR something.. to instill confidence.. be nice to have a leg up.. at 9's
-------------------- lostone Posts: 2666 | From: san jose,ca usa | Registered: Sep 2002
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