Analysts at both Stifel and Jefferies have estimated a 4-5p increase innet 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
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.
Horizonte Minerals has executed a finance facility of up to $325m in order to fund the construction and development of its Araguaia ferro-nickel project in Brazil which will cover a significant portion of the pre-production capex required to complete Stage 1 construction.
(Sharecast News) - London stocks were set to fall at the open on Wednesday amid fading hopes of a US stimulus deal and as figures showed the UK economy has fallen into recession for the first time in 11 years due to the Covid-19 pandemic.
Boris Johnson has warned the UK has a "long, long way to go" before the economy improves, after official figures showed the largest drop in employment in over a decade. Between April and June, the number of people in work fell by 220,000.