Turns out the insitutional footprints we saw were solid. The stock had a nice move on Phase 2 data. There's the risk that they do a secondary offering, which is normal for pharma companies after FDA events, but they seem to be flush with cash.
Another interesting note-- this is the third largest holding for NVDA. That's right, the chip maker has a little over 7MM shares in the stock. They want this to work, because it's not a pharma company, it's a healthcare AI platform company that also sells drugs.
We've got a solid entry in a stock that could reassert its trend.
All that said, good time to take profits as the call options will start to decay after an FDA event.
Action To Take
Stock Trade: Sell to Close HALF RXRX Stock at 10.98. From an entry of 7.61, that is a return of 44.2%
Option Trade: Sell to Close HALF RXRX Jun $13 Calls for 1.95. The bid/ask is 1.85x2.05 so that is a reasonable fill.
From an entry of 0.60, that is a return of 225%