Human Genome Sciences Plays Give-Back (HGSI)

Posted in General 
August 27th, 2009

Human Genome Sciences Inc. (HGSI) is getting clipped in early trading but volume is still rather light. This one has risen sharply in recent days that its Lupus drug partner GSK was interested in buying the company outright. There has not been a total rebuff or denial, but these reports seem to be getting dismissed now after the stock has already seen an exponential rise. At 8:04 AM EST we have shares down 4.6% at $19.56 and have only seen about 40,000 shares trade hands. With volume now averaging 12 million shares, expect the volume to rise. Yesterday’s intra-day high was $22.78 and the close yesterday was at $20.50. -JON OGG

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