Mystery Block: NPS Pharmaceuticals (NPSP)

Posted in block volume, pre-market 
July 1st, 2008

NPS Pharmaceuticals (NASDAQ: NPSP) never makes the most active list in pre-market trading. Yet this morning there are exactly 1,000,0000 shares that have traded hands with a print up $0.01 at $4.46. The average daily volume isn’t even 300,000 shares.  So what gives?  Last week we saw some 6 million shares trade hands on Friday, which looks like it was tied more to Russell Index rebalances than anything.  We’d chalk this one up as the same.  There is even an outside chance that this is a delayed trade settlement from Monday or Wednesday.  Generally these mysteries are not that mysterious after all.

52-week range:   $3.45 to $6.36

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