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add 200M from offering now...
It feels like that JPM bought up shares to 7.35, then exercised warrants, push through shorts and dumped...
They have still warrants to exercise...25M of them😅
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How much is it shorted??
JPMorgan analyst Anupam Rama noted that Scholar Rock shares are down about 15%, which Rama views as "overdone," after the company announced update 12-month results from the phase 2 TOPAZ study in the treatment of Type 2/3 Spinal Muscular Atrophy. The 12-month data showed relatively consistent functional benefit compared to six-month interim data reported in October, noted Rama, who added that "there were no major concerns" on the safety front. The analyst, who sees the "totality of data as a probability of success increase lever," reiterates an Overweight rating on Scholar Rock shares.
2. Does anybody know how is it possible for a stock to keep going up when an offering has been announced? what is the logic behind it?
Now we know why market makers actively pushed the price today into the stratosphere so SRRK would get the best possible price ($39 is a lot better than $13). This was one organized effort to push the price up and up. I expect SRRK to open around $39 tomorrow and then selling will start and the price will drop to low $30s.
https://finance.yahoo.com/news/scholar-rock-announces-pricing-public-023300383.html
Food for thought:
$39 compared to $13 (previous price) = 300%
Did they make 300% of the profit?
Is that drug going to make them 300% of profit without 3rd trial and FDA approval yet?
I might have been the dummy who bet against it, but I know when I see unfair market manipulation.
I am out and good luck to you all!