In most cases when a biotech has a share price rise like BIT has had it usually raises funds to institutional investors to its share register plus also to indicate to a partner it can go it alone and not take any low ball offer . Until i see that happening i will continue to see BIT as a HC rampathon stock.
Just look at the volume traded on ASX and CHI-X yesterday , some 94.36m shares got traded . Top 20 own around 25% and i would not consider them traders so lets assume 75% is available of the 550m listed shares or around 412m shares. Yesterdays volume represented around 23% of possible available stock.
The fact the price on both asx and chi-x closed near the low of the day and that large volume ran for the exits indicates a much lower price next week imo.
Ann: Presentation of BIT225-009 HIV-1 Phase 2 Data, page-690
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Last
1.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $17.14M | |||
| Open | High | Low | Value | Volume |
| 1.9¢ | 1.9¢ | 1.9¢ | $7.664K | 403.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100000 | 1.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.0¢ | 1202498 | 5 |
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| Last trade - 13.42pm 27/09/2024 (20 minute delay) ? |
| BIT (ASX) Chart |