There just seems to be so much potential to chase profits short...

There just seems to be so much potential to chase profits short term these days that unless you're on a charge up you'll be seen as something to move away from. With all the different financial products available to invest in and the increase in algo trading, institutions whose entire job is moving things around (they don't start or run companies, they profit by buying and selling stakes in them and stuff like bonds, currencies and commodities) are likely to be shuffling things at an ever increasing rate. Even if they are long on Neuren's upside they could still be holding a base stake and playing with a minor holding by shifting it around into other stocks or even shorting Neu if that's what they think is the direction in the short term (note the names long and short emphasise a time frame before the price).

For now it seems like strong Acadia numbers in August are the best way to turn things around, or suggestions of a genuine takeover offer. Phase 3 is too long a wait for the big guys unfortunately.