bmn price drop explanation from horses mouth, page-3

Yeah thats what I was getting at in my email.

For those coming late to the party and missed my post before it was moderated, feel free to jump onto the BMN site and email shareholder relations. Took a little while but I did get a response.

If you want to post it up make sure you ask for permission to do so because apparently thats required.

The gist of it is that there was a big institutional investor that asked their broker to liquidate a bundle of holdings a week or so ago. This probably increased the volume traded significantly and, I would say, holding back any attempts at rallying.

As to why they didn't announce this, I'm not sure. Perhaps the basket of holdings was spread among multiple entities such that they werent classed as substantial holders.