Methodology: each issue's direction is a live signal — long/short opens or holds a position, neutral means flat, and every direction change opens, flips, or closes it. Returns are direction-aware (a short gains when the price falls) and compound across positions from first observation to the latest issue. "Price move" is the stock's own raw change, shown separately. Neither represents actual portfolio performance.
Brief History (7 issues)
Down 7.9% to $28.39 through the $30.50 stop — closed out. Three days of stalemate bought a catch-down, not a bounce; the trade settles near -9%, and the gene-editing M&A dream can reschedule
Down 0.2% to $30.84, day three at 1.1% above the $30.50 stop — a stalemate isn't a turnaround; one more volumeless bounce and discipline decides
Down 5.1% to $31.00, one red candle from the tightened $30.50 stop — tomorrow it bounces or it's goodbye
Down 8.8% in a catch-down that ate most of the gains, through the 20-day with the 50-day ($31.60) still below; stop tightened to $30.50 — the gene-editing M&A dream doesn't merit an undefended wait
Down 2.9% as the Ionis scare rippled through gene therapy; holding above the 20-day ($33.60), the M&A-wave thesis intact
Down 2.7% on a retest; post the $10B Crinetics print, gene editing stays in the M&A rumor zone — holding above the 20-day ($33)
+7.4% gene-editing breakout to 52-week highs on the M&A wave — fits the next-prey profile