Human Genome Sciences Secondary Looming (HGSI)

Posted in pre-market 
December 1st, 2009

Human Genome Sciences, Inc. (NASDAQ: HGSI) announced a secondary offering last night of up to 12.5 million shares.  This now looks further and further as though it is dwindling as a takeover candidate.  This would raise over $300 million.  It is safe to assume that trading volume will pick up as we get closer to the opening bell.  At 8:10 AM EST there have only been 7,000 shares traded and the stock is down over 3% at $26.95 this morning.    We saw this one down at $26.50 last night.

JON OGG

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