Calls Outnumber Puts 3 to 1 for Biotech Firm Dendreon

Here’s a biotech company you may want to keep an eye on. Company stock has ranged from $6.46 to $43.96 in the last year and has gone up 60.7% in the last quarter. Stock price is currently $14.35. 2/3 of option investors think it’s going to continue on its way up, but 1/3 think it will be going back down. Check it out and see what you think.

Institutional trading of Dendreon shares yielded a bought/sold volume ratio of 2.18. A total of 53 block trades crossed the tape yesterday, resulting in 1,058,101 shares on the buy side and 486,098 shares on the sell side. From a cash flow perspective, this implies that there was a cash inflow of $14,337,113 and a cash outflow of $6,397,491. Yesterday’s net cash flow for DNDN is $7,939,621, demonstrating that institutions may have positive outlook on the stock.

On the options side, investors traded a total of 54,854 contracts. Specifically, 41,259 call and 13,595 put contracts were traded yesterday yielding a 0.33 put/call ratio.

Dendreon Corporation is a biotechnology company focused on the discovery, development and commercialization of novel therapeutics that improve cancer treatment options for patients.

Shares of DNDN closed at $14.35 during the previous session. During yesterday’s session, the stock hit a low of $12.13 and high of $14.52. The current trading volume of 24,630,092 is greater than average volume of 7,413,150 shares. DNDN is trading above the 50 day moving average and lower than the 200 day moving average. The technical momentum Relative Strength Index indicator shows overbought conditions. The stock’s 52 week low is $6.46 and 52 week high is $43.96. Performance indicators show that the stock has gained 60.69% within the last quarter.

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