Just look at the shorter to tell you who is trying to control the stock..
He has been reducing his position consistently over the last month and has managed to buy back 2,000,000 shares while pretty much keeping a cap on the shareprice.
The rinse and repeat of knocking down the shares and then slowly buying them back is so obvious..
I just find it amazing they can get away with it and that none of the big institutions who already have a decent position are accumulating down at these prices. That said the 2 bigggest shareholders Allan grey and Fidelity have both increased there shareholding by 1% each in the last 12 months, so they have bought some of the shorts selling.
The only thing that is clearly going to stop this persistent game is sustained news of sales and progress on the heart failure front. This should be coupled with positive clinical trials and then we should see a rerate of the shares.
Until then the shorter has too much fire power and control to try and take on..or no one has the appetite to do it until their is clear evidence of progress..
IPD Price at posting:
75.0¢ Sentiment: Buy Disclosure: Held
