Speculative small and midcap biotechs

I've discussed these at some length here and in private with several of you.

These are highly speculative, should be handled carefully (if at all).

I tend to have anywhere from 50-100 of these in my portfolio in small amounts at any one time. I have relatively small long stock positions on many of them, usually covered by put options if I can get them and get them at a decent price.

Some of them I may just have puts and calls on with no actual LONG position. I virtually never have short stock positions on these, and if I do it is usually just as a small day trade, and such a short is usually covered with a call option.

If you have $100k in your portfolio and you're fairly aggressive, you might consider allocating no more than 1-2% of that $ towards a number of these. Maybe 5% if you're really aggressive, probably not much more. Diversification in these is very important. I look for promising drug pipelines, healthy daily trading volume, and the presence of one or more of the big boys buying these. And I prefer to start buying them usually when they've sold off hard. I will buy them very lightly, particularly if they are just coming off of a big jump and are starting to cool off.

I have no loyalty to them, will get in and out of them with some or all of the $ I have in each of them when the time is right. Sometimes it's a drug trial, or a drug approval decision, big money coming into it, earnings, or M&A rumors.

I recently bought several hundred shares of PTX over the last few weeks. It's on fire today, not a good day to buy more. If it continues to shoot up, good for me since I already own it. Would wait to commit any new capital to it the next time it falls double digits. This is another Steve Cohen pick.

 

Meant to say "actual LONG stock position" here, not "short" position.

 

Edited the post for you JR

 

Thank you kindly!

 

CCXI

Transaction Date	Transaction Type	Dividend Per Share	Shares Transacted	Share Price $	Split Ratio	Commission $	Transaction Value $	Share Balance

	4/16/2016	Buy		100.0000	2.4600		0.00	246.00	100.0000
	5/10/2016	Sell		50.0000	3.5000		0.00	175.00	50.0000
	5/11/2016	Sell		30.0000	4.7400		0.00	142.20	20.0000
	5/12/2016	Buy		20.0000	4.0200		0.00	80.40	40.0000
	5/18/2016	Sell		40.0000	4.5000		0.00	180.00	0.0000

 

CSLT

Transaction Date	Transaction Type	Dividend Per Share	Shares Transacted	Share Price $	Split Ratio	Commission $	Transaction Value $	Share Balance

	2/23/2016	Buy		100.0000	2.8900		0.00	289.00	100.0000
	3/23/2016	Buy		50.0000	3.0400		0.00	152.00	150.0000
	5/18/2016	Sell		150.0000	3.9700		0.00	595.50	0.0000

 

XBIT

Transaction Date	Transaction Type	Dividend Per Share	Shares Transacted	Share Price $	Split Ratio	Commission $	Transaction Value $	Share Balance

	11/24/2015	Buy		33.0000	9.1100		0.00	300.63	33.0000
	12/7/2015	Sell		33.0000	13.2500		0.00	437.25	0.0000
	12/8/2015	Buy		66.0000	11.3300		0.00	747.78	66.0000
	12/11/2015	Buy		34.0000	10.8100		0.00	367.54	100.0000
	12/23/2015	Buy		100.0000	10.6800		0.00	1,068.00	200.0000
	1/8/2016	Buy		50.0000	8.1400		0.00	407.00	250.0000
	1/20/2016	Buy		50.0000	6.6700		0.00	333.50	300.0000
	3/24/2016	Sell		300.0000	11.0000		0.00	3,300.00	0.0000
	3/28/2016	Buy		10.0000	9.3000		0.00	93.00	10.0000
	5/18/2016	Sell		10.0000	15.5500		0.00	155.50	0.0000

 

ONCE

	Transaction Date	Transaction Type	Dividend Per Share	Shares Transacted	Share Price $	Split Ratio	Commission $	Transaction Value $	Share Balance

	3/3/2015	Buy		5.0000	55.4000		0.00	277.00	5.0000
	5/4/2015	Buy		5.0000	50.9300		0.00	254.65	10.0000
	10/7/2015	Buy		10.0000	45.9800		0.00	459.80	20.0000
	12/7/2015	Buy		5.0000	50.8500		0.00	254.25	25.0000
	12/9/2015	Buy		5.0000	46.7700		0.00	233.85	30.0000
	12/16/2015	Buy		5.0000	45.6100		0.00	228.05	35.0000
	1/4/2016	Buy		15.0000	41.8400		0.00	627.60	50.0000
	1/6/2016	Buy		25.0000	38.3300		0.00	958.25	75.0000
	1/7/2016	Buy		25.0000	34.4600		0.00	861.50	100.0000
	1/11/2016	Buy		100.0000	30.1600		0.00	3,016.00	200.0000
	1/28/2016	Buy		50.0000	25.5800		0.00	1,279.00	250.0000
	3/2/2016	Sell		175.0000	37.1200		0.00	6,496.00	75.0000
	3/23/2016	Buy		25.0000	32.8800		0.00	822.00	100.0000
	4/20/2016	Sell		90.0000	39.0000		0.00	3,510.00	10.0000
	5/19/2016	Sell		10.0000	50.0000		0.00	500.00	0.0000

 

ANAC

Transaction Date	Transaction Type	Dividend Per Share	Shares Transacted	Share Price $	Split Ratio	Commission $	Transaction Value $	Share Balance

	1/7/2016	Buy		1.0000	102.3100		0.00	102.31	1.0000
	1/11/2016	Buy		1.0000	88.9700		0.00	88.97	2.0000
	3/31/2016	Buy		5.0000	53.3000		0.00	266.50	7.0000
	5/16/2016	Sell		7.0000	100.0000		0.00	700.00	0.0000

 

CLRB

Transaction Date	Transaction Type	Dividend Per Share	Shares Transacted	Share Price $	Split Ratio	Commission $	Transaction Value $	Share Balance

	3/22/2016	Buy		25.0000	4.3090		0.00	107.73	25.0000
	3/28/2016	Buy		25.0000	3.5000		0.00	87.50	50.0000
	4/15/2016	Buy		50.0000	2.1000		0.00	105.00	100.0000
	5/17/2016	Buy		50.0000	1.2200		0.00	61.00	150.0000
	5/20/2016	Sell		125.0000	3.7100		0.00	463.75	25.0000