Dendreon (DNDN) adds 49 cents to $6.74 on high volume of 8.6 million shares and options on the biotech are busy Wednesday as well. 14,000 calls and 3,870 puts so far. The top trade is up 1876 July 6 puts traded on the 36-cent bid and possibly a closing seller. The next biggest trade is a 1000-lot of Jun 7 calls on the 15-cent bid. 5,669 now traded, making it the most active in DNDN. Beyond that, the flow has been in smaller lots. June 6, July 7, and Jun 8 are also among the most actives and 30-day ATM Vols are up 16.5 percent to 90.5. A firm called Summer Street Research had positive comments about Dendreon today. The analysts raised the stock to Buy, with an $18 price target, saying DNDN is down 80 percent from last year when the company warned that Provenge was slow to be adopted, but margins are likely to improve thanks to new management. (WhatsTrading Premium Alert Sample).
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.