Volume Spike Investor

Maxygen Inc. (NASDAQ: MAXY) is a small emerging pharma stock company that almost never generates any “active volume surge” characteristics.  This morning the company sold its hemophelia unit for some $90 million and it is now trading below its net cash basis.  Be sure to read out the longer story linked before if you trade based on that, because there is a reason that it is still below cash.

Maxygen shares as of 11:33 AM EST are up 33.9% at $4.70 on over 1million shares and its 52-week trading range is $3.28 to $9.56.  With a $174 million market cap after the unit sale gain.  Maxygen’s average volume is only about 217,000 shares.

Jon Ogg
July 2, 2008