The sudden drop in share price could be due to institutional...

The sudden drop in share price could be due to institutional investors attempting to liquidate some of their positions.

I suspect JM is a seller, the UBI Top20 shareholder updates on their website have shown some selling by JM Equities from 31 Dec 2021 to 31 March 2022. Fund managers so often sell their winners to meet diversification requirements etc and this could potentially be happening with JM as they do have a sizeable position in UBI.

They have been in the stock since 20c levels, when it had a cash backing greater than the market capitalisation. No harm in taking profits and moving on.

Viburnum taking $20m @77c in my opinion is an excellent sign of confidence in the company moving forward. Craig Coleman is the Chairman of Universal Biosensors & the managing partner of Viburnum Funds. He would be very familiar with Universal Biosensors' long term strategy and objectives. So much so that he is willing to take $20m at 77c per share via Viburnum.

Other institutions may not like the level of control that Viburnum is excercising here (20% + ownership) hence could be causing downward pressure.

If I'm Viburnum right now and I understand the story I'm looking to accumulate a big position and let the company fulfil its strategic objectives.

I suspect investors that took the placement at 77c are also now underwater, further contributing to the sharp decline in the SP. Some may just want to wash their hands clean and walk away and move on. Nobody likes to be down 20%+ a few weeks after taking a placement.

Now throw in retail investors that have seen the stock sharply come down from 90c to 60c. It's all good when the SP is chugging along nicely until it doesn't...

In my opinion UBI looks completely oversold. Nobody in their right mind is going to pay 77c for their entitlement when the SP is trading at sub 60c. Maybe that's what Viburnum want, nobody to take their entitlement so they can mop it up. Gotta ask yourself do you know more than Craig Coleman about UBI's operations? I certainly don't

This is heavily oversold in my opinion with the share price falling to 52c today and closing at 60c with 2m+ shares traded.