Optimer soars 11% to $13.13 on presentation of Shea Data and preliminary FDA review:
Optimer is selling off late at the close on heavy volume. Could be issues here.Need to dig deeper on who is selling and why. No technical damage however. Recent trading has negative MACD and distribution of stock probably institutions that were involved in the Public Offering of 7.8M shares at $11.25 and Underwriters option on February 16 . Need $11.40 to hold technical levels.
The stock was close to 13 on March 25. Our mid-cap index of 33 biotechs was up 1.8% today.