- Among the many sellers of Aquinox Pharmaceuticals (AQXP -10%) recently was Johnson & Johnson (JNJ -0.6%). According to a regulatory filing, it unloaded over 1.5M shares on August 10 and 11 at an average price of $22.41, reducing its stake to 100K shares.
- Aquinox experienced breathtaking action over several days, even by biotech standards. On Friday, August 8, in response to its announcement of positive trial results for its lead product candidate, shares closed up almost five-fold ($10.42) from Thursday's close of $1.79. On Monday, August 10, shares peaked at a mind-boggling $55.75 before easing to $18.88. On Tuesday, shares peaked at $30.00 before moderating to close at $21.01.