If there is any logic as to how they are conducting this buyback then it defeats me as to what it might be. How this is currently being conducted looks absolutely bizarre. I would have thought it would be pretty simple, hoover up as many shares as you can as cheaply as possible. If Moelis are not up to the task of conducting a proper buyback then let's find someone who is. Why would you open the buy back, after you could have participated in a shareprice dip and very good volume, with a purchase of only @5,000 shares on Thursday and then not buy again on the Friday ?
The news flow over the next 6 months should be pretty good, with at least two large phase III contacts to be awarded and the launch of Cogmate in the US.
CGS Price at posting:
$1.44 Sentiment: Buy Disclosure: Held
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