Volume Spike Investor » DNDN

Dendreon Stock/Option Volume Analysis (DNDN)

247admin — Fri, 30 Apr 2010 15:00:51 +0000

By now you know the news for Dendreon Corporation (NASDAQ: DNDN). It turns out that the pre-event snapshot gave a very close and accurate read on what to expect from the volatility trade in options ahead of PROVENGE getting FDA approval.

And this morning shares hit yet a new high of $55.00. At 10:50 AM EST we have shares up 9.05% at $54.72 on 18 million shares of common stock having traded hands. That is 4-times normal volume and this should put DNDN on track to trade even more shares this Friday than it did yesterday when it traded 30,615,100 for a $50.18 close. The closing bell the day before was $39.62.

We have also seen almost 60,000 CALL options trade today in the May-2010 expirations.

Dendreon traded 31 million shares on March 2, but this was only a $33.26 stock at the time. Then there is the point where Dendreon turned the corner last year:

April 29… 48,319,000 shares to close at $22.94.
April 28… 33,026,400 shares to close at $11.81.

Then there was April 14 when 65,410,500 shares traded for a close of $16.99 versus a $17.30 close the day before.

The last time for 30+ million before then was October 6, 2008, when 35,721,400 shares traded for a close of $6.93.

Stay tuned…

JON C. OGG

Top Day Trader Alerts (QCOM, CRZO, DNDN, TRA, CF, NTRI, SPLS, NUHC)

247admin — Tue, 02 Mar 2010 13:41:06 +0000

These are this morning’s top day trader and active trader alert stocks seen on the move with news events. We have provided appropriate trading data and color on each where applicable.

QUALCOMM Corp. (NASDAQ: QCOM) has done something to try to halt what has been a share price freefall after 7 straight down days. The CDMA chipset designer announced a new $3 billion buyback program and announced that it was raising its quarterly dividend to $0.19 from $0.17. Even at 8:28 AM EST we have seen over 750,000 shares trade hands and the stock is up 3.3% at $36.75.

Carrizo Oil & Gas Inc. (NASDAQ: CRZO) rose last night and is indicated higher again. Jim Cramer interviewed the company CEO on CNBC’s Mad Money as a natural gas winner that still has room to improve. Volume is thin this morning so far but shares are indicated up 4% at $25.27.

Dendreon Corporation (NASDAQ: DNDN) is trading lower this morning. TheStreet.com has highlighted an independent report claiming that the company’s PROVENGE is likely to be brought before an FDA panel. The reason for the drop is that most expected this to go straight to the approval process which is due on or before May 1. Shares are down almost 7% at $30.25 on over 500,000 at 8:30 AM EST.

Terra Industries Inc. (NYSE: TRA) is back in the spotlight as the target of CF Industries Holdings, Inc. (NYSE: CF). CF is offering $47.40 for the company. This is likely to put a focus on other fertilizer and potash companies today despite poor earnings data from the group. CF is down 7% at $100.20 on almost 300,000 shares and Terra is up 12% at $46.35 (a new 52-week high above $43.13) on over 7.5 million shares as of 8:25 AM EST.

NutriSystem Inc. (NASDAQ: NTRI) is trading down sharply after earnings. The company posted positive earnings for its Q4 period but guidance for the coming quarter is proving to be a very weak Q1. Shares were down 12% at $16.50 last night in active trading and this morning at 8:25 AM EST we have shares down 14.3% at $16.19 on 170,000 shares in the pre-market. Average volume is about 1.05 million shares and the 52-week range is $11.58 to $33.54.

Staples Inc. (NASDAQ: SPLS) is trading lower after earnings. It posted $0.38 non-GAAP EPS vs. $0.39 estimate from Thomson Reuters and gave guidance for the coming quarter of $0.25 to $0.27 EPS versus estimates of $0.27. At 8:25 AM EST we have seen 260,000 shares trade and the last print was down 6.2% at $24.25. This was already very close to 52-week highs as its range of the last year is $14.35 to $26.00.

Nu Horizons Electronics Corp. (NASDAQ: NUHC) is usually thin volume. But it and Xilinx are terminating a distribution pact. Nu Horizons usually trades about 44,000 shares per day. The market is not even open yet and at 8:33 AM EST we have seen 40,000 shares trade hands and the stock is down 28% at $3.14 to be the biggest percentage loser of the day. The stock closed at $4.40 yesterday and the 52-week range is $1.45 to $4.68.

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JON C. OGG

Color on Dendreon’s Offering (DNDN)

247admin — Fri, 11 Dec 2009 13:05:18 +0000

Dendreon Corporation (NASDAQ: DNDN) is trading lower after pricing its 15 million shares secondary offering last night. The price went off at a deeper discount than the trading activity had hinted at because the price was $24.75 versus a $25.65 close. The stock had been around $26.50 to $27.00 before the offering was announced this week. At 8:03 AM EST we have shares down only 1.05% at $25.38 on over 80,000 shares. Average volume is 3 million shares, but you can bet for sure that this average will be hit early today. We’d also look for the options volume to be active.

J. P. Morgan and Deutsche Bank were the joint book-runners; co-managers are Citigroup, Morgan Stanley, Lazard Capital Markets, Leerink Swann, and Needham & Company. Dendreon anticipates net proceeds from the offering of approximately $356.0 million or $409.5 million if the 2.25 million share overallotment option is exercised. All proceeds are for the company and are going into manufacturing facilities, and other activities to further gear up for the PROVENG launch IF/AND when it is finally approved by the FDA.

Jon C. Ogg

Dendreon Holding Up Despite Dilution (DNDN)

247admin — Wed, 09 Dec 2009 13:12:31 +0000

Dendreon Corp. (NASDAQ: DNDN) is down after the company said it was raising cash. It is selling 15 million shares of common stock through JPMorgan and Deutsche Bank. This traded 198,000 shares last night in the after-hours and the stock fell 1.84% to $26.15 after a $26.64 close. Volume is actually very thin this morning. At 8:08 AM EST we have shares trading down only 0.9% at $26.38 on 8,000 shares as of 8:09 AM EST. For whatever it is worth, the stock is currently under its 50-day moving average of $27.75. $25.50 was very strong support in late-October and looks to be a longer-term pivot level.

Details of the offering are available at BioHealthInvestor.com.

JON C. OGG

Dendreon Rocks Up on Filing (DNDN)

247admin — Mon, 02 Nov 2009 13:46:04 +0000

Dendreon Corp. (NASDAQ: DNDN) is trading higher on word from the company that it has filed its new drug application with the FDA for PROVENGE to treat prostate cancer. The notion of the filing is not new, although many were not expecting this filing to be submitted until later in November or in December. At 8:44 AM EST we have seen 250,000 shares trade hands and the last print seen was up 6.8% at $27.00 after a $25.27 close on Friday. Average volume is almost 3 million shares, but it is usually much higher trading volume on days with news.

JON C. OGG

Dendreon Surges on Management Additions (DNDN)

247admin — Mon, 12 Oct 2009 12:45:18 +0000

Dendreon Corporation (NASDAQ: DNDN) is surging on news that the company has added two new directors to its board. These are Ian Clark, the CEO of Roche’s Genentech unit, and Pedro Granadillo, a former Eli Lilly (LLY) manufacturing executive. These are viewed as top brass to help the company transition from pre-revenue into a revenue generator when and if its PROVENGE gets approved. At 8:43 AM EST we have seen some 270,000 shares trade hands and the stock is back up at $29.27. The 52-week trading range is $2.55 to $30.42 and the average volume here is 2.8 million shares. -JON C. OGG

Dendreon Gives Some Gains Back (DNDN)

247admin — Tue, 15 Sep 2009 12:46:59 +0000

Dendreon Corp. (NASDAQ: (DNDN) is playing give-back this morning after buyout rumors or hopes were running that stock yesterday. At 8:44 AM EST we have seen over 180,000 shares trade hands and shares are down 3% at $26.56. This traded 14 million shares yesterday and was the highest closing level since the return of the $20+ handles. If nothing hits today, then sellers are likely to come out on top. JON OGG

Dendreon Stock and Options Go Exponential (DNDN)

247admin — Mon, 14 Sep 2009 18:11:54 +0000

Dendreon Corp. (NASDAQ: DNDN) is surging on exponential volume today as traders are speculating, and hoping, that the company will become a takeover target. The word today is over hopes of a “European drug/bio/ buyer”. At 2:05 PM EST we have shares up almost 12% at $26.69 and volume is exponential at 8.8 million shares vs. average volume of 2.8 million shares. The real interest though is in the CALL options, particularly when you look at the SEPT-2009 CALL activity below. These expire this coming Friday.

Strike Volume Op.Int.
$24.00   3,289   4,477
$25.00   15,477   15,844
$26.00   7,338   4,251
$27.00   1,854   2,814
$28.00   1,955   5,963
$29.00   677   2,338
$30.00   4,537   7,709
Here is the OCT-2009 Options activity:
Strike Volume Op.Int.
$24.00   1,269   2,610
$25.00   1,056   2,156

JON C. OGG

PREMARKET ALERT: Dendreon (DNDN, SNY, BMY, GSK)

247admin — Mon, 06 Jul 2009 13:04:22 +0000

Dendreon (Nasdaq: DNDN) shares are among the market’s most active in the premarket as of 9 a.m. Eastern, up more than 5 percent with nearly 80,000 shares traded, following a price target increase at a boutique research firm.

Meriman reiterated a Buy rating and raised its target on Dendreon to the $49 to $50 range, up from a previous range to $33 to $34. The firm said it believes that based on the favorable safety profile of Provenge, it could gain significant market share in treating prostate cancer.

The firm added that partnerships are possible in the upcoming months, and the firm sees Sanofi-Aventis (NYSE: SNY), Bristol Myers (NYSE: BMY) or GlaxoSmithKline (NYSE: GSK) as potential partners.

Dendreon shares slide on Provenge delay worry (DNDN)

247admin — Tue, 23 Jun 2009 14:17:07 +0000

Dendreon (DNDN) shares are trading about 4% lower on a sudden surge in volume as of about 10 a.m. Eastern this morning.

Market participants appear to be questioning if the timing of a plant buildout laid out in a filing late yesterday means that the company’s Provenge drug could be delayed. — Mike Tarsala

For details, go to biohealthinvestor.com.