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After breaking the market outlook that SK Bioscience will record a’tasangsang’, the recent stock price has been sluggish. It is interpreted that the profit-taking sale of foreign investors and other corporate-centered institutional investors is coming out. However, the stock price outlook is still bright.
According to the Korea Exchange on the 22nd, the stock price of SK Bioscience in the securities market on the 22nd ended at 144,000 won, down 2,500 won (-13.51%) compared to the previous trading day. SK Bioscience started falling on the third day of the transaction, and then fell to 143,000 won, increasing intraday decline. On this day, the trading volume amounted to 45,61129 shares.
On the 18th, the first day of the transaction, SK Bioscience succeeded in’Tasang’, which rose to the upper limit after the initial price was set at twice the public offering price (65,000 won). It ended down 1.48%, falling short of market expectations that it would record a single cap. At the time of the 19th, the stock price rose to 184,000 won during the intraday, but it is interpreted that it turned downward as the profit-taking sale was pulled out. On the 19th, the trading volume reached 12.49 million shares.
It can be interpreted that the stock price of SK Bioscience was pulled down by foreign investors and institutional investors. On the 19th, foreigners sold SK Biosciences worth 123.1 billion won and institutions worth 29.2 billion won. Among the institutions, other corporations (including private equity funds and domestic and foreigners) sold the most at 16.4 billion won.
In addition, there is an analysis that the so-called’shang-ta’ (catching up to the upper limit) played a part in the cause of SK Bioscience’s share price decline. On the first day of listing, at the Kyobo Securities window, 70% of the total trading volume was signed at the upper limit of the initial price, and this investor made a profit of 7.2 billion won by reselling most of the volume the next day.
SK Biosciences received great attention from the market by collecting a margin of 63.6 trillion won in the process of applying for public offerings. Although the stock price has recently suffered a slump, the stock price outlook for SK Bioscience is bright.
Kim Ji-ha, a researcher at Meritz Securities, said, “The performance of SK Bioscience’s Consignment Production (CMO) and Consignment Development Production (CDMO) business is expected to be 4969 billion won this year and 739.5 billion won next year, taking into account the global average unit price and profit structure.” In a situation where the supply shortage of vaccines for coronavirus infection (Corona 19) continues, there is a possibility to win additional orders for CMO contracts using spare production facilities.”
Researcher Kim said, “In addition, SK Bioscience is developing two COVID-19 vaccine candidates based on synthetic antigens, and has entered the Phase 1 clinical trial and Phase 1/2 clinical trial, respectively. It is also positive that it is trying to secure long-term growth engines through vaccine development.”
Reporter Eunhye Lee [email protected]
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