The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Will Arix have to pay tax on this gain, and is this why we haven't (yet?) seen the full 89p uplift?
incredible.... £120m in cash uplift, NAV is around this price excluding the sale - should be around the £2.50-£3 mark if my calculations are correct, £££
Arix share worth £142 mill, nice lump of cash being recieved
Arix Bioscience PLC: VelosBio to be acquired by Merck for $2.75 billion
If you missed this one. Next big gain to be had rgo. Gla
Good timing dude.
Simple.. Boom
Sold most of my ARIX shares at 110.5p at the beginning of the month and the balance today at 103p. No specific concerns about Arix, but I am worried about the risk of a whole market correction if Covid / Brexit / US Election fears take hold. 60% of my portfolio now in cash and I’m comfortable with sitting on that for the moment. May well come back to Arix if I see a good re-entry point over the next few months. GLA.
Arix have been selling Pharmaxis shares :
http://www.pharmaxis.com.au/assets/Documents/pdf/02020/ASX/2020-10-20-Change-in-substantial-Arix.pdf
...and a few more at $6.02. If it's good enough for Arix...
Couldn't resist it - just bought some LOGC myself at the new cheap price of $6.16!
And with today's RNS it all becomes clear - they were forward-selling!
Sgd. nice info on cash and listed shares, really underpins the share price
Now in the money with the recent share rise
Arix have been selling LogicBio shares :
https://seekingalpha.com/filing/5178213
"
During the last 60 days, the Reporting Persons effected the following transactions in the Common Stock:
Date Amount Price per Share Type of Transaction
July 29, 2020
2,709 $ 8.781 (1) open market sale
August 12, 2020
1,335 $ 8.790 (2) open market sale
August 13, 2020
159 $ 8.750 open market sale
September 24, 2020
38,514 $ 7.629 (3) open market sale
September 25, 2020
174,219 $ 7.077 (4) open market sale
September 28, 2020
273,584 $ 7.5365 (5) open market sale
"
Yesterday (29th) the LOGC SP rose 27% to $9.45.
This doesn't look like great timing :-(
Or is it just a reminder that large holdings in small companies can't be liquidated without driving the SP down. Then it springs back when you've finished. (if they've finished? Still holding ~10%)
It will always be difficult for you and I to value the private investments in the Arix portfolio. So for me it's significant that, according to the chart on Page 6, the Mcap has dipped below the sum of cash + public investments alone. This makes it very hard to argue that Arix isn't undervalued!
Full report here :
https://www.hardmanandco.com/wp-content/uploads/2020/09/ARIX-Interim-update-21-Sept-2020.pdf
"Investment summary: Even though ARIX is still a relatively young company, the market is beginning to appreciate that the company has a maturing portfolio, with investee companies running 19 clinical trials that could lead to a number of value inflection points. Since inception, ARIX’s investments have generated an IRR of 20% and it has set itself an ambitious set of targets for the coming three years which, if achieved, could see the NAV double to ca.£500m."
Apols for misspelling - "Autolus", not "Autilus".
By my calculation, each $1 in the AUTL SP translates to roughly 2p in the ARIX SP. (I'd be grateful if anyone can be bothered to check this calculation.)
"
"Today we presented data from our recommended Phase 2 dose cohort from the ALEXANDER trial of AUTO3, a CD19 and CD22 dual targeting CAR T product candidate in DLBCL. The data support a best in class profile with a high level of complete remissions and a well tolerated safety profile," said Dr. Christian Itin, chairman and chief executive officer of Autolus.
"
Sounds positive. Let's see how AUTL fares when NASDAQ opens later (2:30pm BST I think).
It's staggering how this seems to be held down at around half its NAV. At some point the SP must return to normality.
Comp - what's on your buy list elsewhere ?
I got out with a little profit....not because I don't think this will go higher "over time" as I'm sure it will, just think there are better investments out there at the moment, will be watching and be straight back in on any weakness....however my timing on selling shares is usually 5hit so I expect this to rocket now I am out....GLA
Does link have to sell to distribute proceeds here, on can they just hold on?
The wcpt investment trust also used to hold arix, on the schroders site I couldn't see they still held this.
One move might be for a fix to buy and cancel the shares as they have cash, even if they bought above market share price this would still be beneficial
a very interesting investment but what worries me is that Link Fund has a 20pct holding and they screwed up badly when selling off some of Woodfords holdings at a give away price. Not so worried about Fosun although I cannot imagine Club Med and Thomas Cook are exactly making money. Wolves doing well though ! Anybody any views ? Thanks
After yesterday afternoon now breakeven.
Agree still undervalued, a long term holding for me and buying on any further dips.
This has to be one of the most undervalued stocks in my portfolio but I am a lot more confident after taking in all the info in that RNS...and yes I can see this well north of £1 very soon and so it should be......