Arix Bioscience to see valuation jump after Woodford sells Autolus stake
Anita Riotta
Company News
10:29, 10th September 2019

Analysts at both Stifel and Jefferies have estimated a 4-5p increase in Arix Bioscience’s (ARIX) net asset value, up to around 159/160p.

The Stifel note explained the drive in Arix’s value was likely a knock-on effect from troubled fund manager Neil Woodford selling his stake in Autolus. Arix holds a 7.6% interest in Autolus, which suffered serious overhang following the suspension of Woodford Equity Income (WEI).

WEI held nearly a quarter of Autolus' shares and the stake made up 16% of the WEI fund's net asset value.

Arix’s share price jumped after Woodford's sell off, rising nearly 8% to 116p.

The Stifel note also emphasised how key upcoming milestones for Arix coupled with the reduction of overhang risk is likely to continue driving up it valuation.

For more news and updates on Arix Bioscience FOLLOW

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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