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Can we hit 10p in the next few days many will have consolidated down to 12p I can see this in the 10p/12p range by end of the week.
About 5 mins ago. Prob reported later
Just believe PXEN is about to move. Risk we take
Oh when did you sell.
I thought you was on the long haul.
I think this is going to go up in the next few days got to get around to around the 10p/12p mark.
Ive bailed. £1.6k profit. Stuck it all in PXEN as its about to move I believe. Ive been in and out a few times. Cross ramp I suppose. Plan to buy back in here and hold though
A lot more calm today some buys and some sells, I can see this tick up this afternoon in the 7p range I would think.
As I did say yesterday calm and steady uptick is much better than the pump and dump.
I have decided to hold I feel my entry price of 4.40 is a good start.
I was going to add again this morning but my initial investment is £8,000.00 maybe in a year it will be double or more..
That 10mil upfront payment against a very tough financing backdrop the last 12 months. Its been incredibly hard for companies to secure funding - esp in the bio sector.
Looks like traders have moved on. Have to see where it ends up.
But more peaceful here today after many have moved on.
The way I read between the lines regarding delisting, moving residency to US and possible relisting(obviously Nasdaq) then the company may IPO in states once a revaluation is completed which judging by valuations in US will see Redx Pharma valued at several times current valuation, fresh money will come in and the company will do very well unless a private equity buyer comes along before that and snaps the company up. The recent $870 milkion Jazz Pharma MOU/contract was a big green light for the future of Redx Pharma including the $10 million upfront payment. JMO Adyor GLA!!!
I thought when it delists shares cannot be traded for the first 6 months. Also, it is not an easy process to trade when delisted. Best here is wait for a relist on a US exchange which seems likely
You will still be able to trade. The spread is already large, so I don't expect much difference. Gl
Maybe. But you wont see much PI rockets under it with a delist pending at the end of the month. Maybe LT value investors will take a risk.
Either way. Patience. I hope it gets to 10p. I will take off 20% and leave the rest
Perhaps, we will see. The valuation here seems absurd to me. By my estimations they have more cash on hand than the MCAP. They have several deals in place with billions in potential earnings. The risk is somewhat mitigated by the number of molecules in clinic. The free float is extremely low, in what is already a low MCAP stock. Who is going to be selling at this price? So, in summary I don't see any sellers (assuming institutions are done) and a small amount of buying, based on great value, will put a rocket under this.
PB - Hoping not expecting is probably the best terminology.
I doubt it very much
I am surprised it isn't much higher already. I am expecting to break 10p today. Then a slower move up to 14p.
Smart Money.
For some reason I logged into an old account but got it deleted.
Slow steady rise is best way. 5.60 on the bid cleared out more 4.5p traders. This is best to move on steadily
Further to my previous posts, I’ve set out (below) a timeline of events in chronological order to help explain the events of the last four days. My subsequent conclusion, at the end, mirrors the views of many on this BB. So here goes:
1. On 02 April 2024 (the date of the delisting announcement), 1.8m shares changed hands and the share price closed down at 6.5p.
2. On 03 April 2024, 900,000 shares changed hands and the share price closed up at 7.5p.
3. On 04 April 2024, 1.1m shares changed hands and the share price remain unchanged at 7.5p.
4. On 06 April 2024, 9.65m shares changed hands and the share price closed down at 4.25p.
5. On 08 April 2024, 10.65m shares changed hands and the share price closed up at 6p.
CONCLUSION:
• Polar Capital sold 810,000 shares on 02 April 2024. This, alongside panicked private investors bailing after the disappointing but understandable announcement, sent the company’s shares crashing from 18.5p to 6.5p.
• Value investors swooped-in on 03 April 2024 sending the shares up from 6.5p to 7.5p.
• Polar Capital then placed their mammoth order to sell the remaining 20,301,504 shares on Friday morning (06 April 2024). This triggered a 45% drop in the share price as buyers were found at between 4.25p-4.5p. The order was, nevertheless, completed on Monday morning (08 April 2024) thereby allowing the share price to commence its recovery.
• With the stock overhang now removed, the share price should stage a strong move to the upside as the market finds an appropriate pre-delisting value of the company.
• It’s also quite possible that we may see further TR-1 notifications revealing the identities of the institutional/private investors who may have snapped-up some of Polar Capital’s shares.
• Either way, and at the current share price of 6p (£23m market cap), the Redx stock is grossly undervalued.
.
Flightman,
The shareholders making up that 84% will be Redmile and Sofinnova who both have a representative on Redx's board and obviously will have backed the move. It will be interesting to see whether either have picked up any of Polar's stock.
They'll just write it off as a tax loss...probably picked up by other institutional investors?
That block sale was polar capital. On market screen they have them as holding 21.11 milion or 5.427% the exact % that they have sold today. So it's all been worked and sold on, will anybody freak out by that trade tomorrow ?
Wow, well that means all those blocks we thought were sells at 4.25p turned out to be buys what a profit for the broker who sold them on.
No problem we all make mistakes unfortunately.
As I see things the large holders want the exit from AiM,and obviously theyre not bothered by this drop.They are probably loading up
After the exit I expect these will go on another platform in the US.
All orchestrated for wealth generation.
Well in that case I'll take it back Flightman..but the day traders have infected this BB... 😆
No Flightman didn't check the time stamp because he's just another day trading deramping moron that has infected the board..!!! It was probably the Polar sale one assumes looking at the TR1 RNS? JMO ADYOR
Thanks Rayte for pointing that out.
Please disregard my previous message.
Shouldn't be any other large holders selling , as they approved the exit,84%
Hope you do well here
Atb
Did you bother to look at the date stamp. Just sayin...
£659k sell at 3.25p today.
So another ii is selling.
TR1 today 0% threshold reached on the 5 th. So has to be another one selling down.
Strange they had 84% vote for the exit from Aim