Long term holding, hedge fund manipulation detected
It is part of the sell-out part from the RA Capital group. Derek DiRocco from RA Capital Group stepped down from the Board and in that part, this led to the SEC filing showing RA just sold 1 million shares (label in red circle). The RA capital group still has a lot left to sell but it seems they are withdrawing from the company. The next guy coming up is Kan Chen who is from Qiming Venture. The Qiming Venture has a similar size compared to RA Capital but it shows the influence of China over the CNTB company decision. The CNTB initially was thought to be focused on the China market with their CBP-201, but after the Simcere contract, it seems that they would be the spear targeting the US market running under the China influence. This does not sit well with many US investing companies which led to mass selling from the US Venture Capital company. Still, besides the complicated politics, CNTB is a good buy for under $7 because it has good results and a very bright future if its products hit the market after phase 3. It is a long-term holding (5 years). Eventually, after their products make a profit and hit the market, their market cap would be huge, unless they file bankruptcy due to poor decisions from voting or anything else. That is often not how Chinese companies run so it would be a long-term investment. I think CNTB is among the top 20 biotech stocks for startups.
This is not financial advice and please be responsible for your own investment decision!
This is not financial advice and please be responsible for your own investment decision!
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