I think the recent share price reaction is because there isn't enough liquidity to absorb selling by one fund (Platinum), maybe others.
At 31 May 2025, SNT was still the Health Sciences' fund's top holding at 5.1% and their portfolio value was $225m. They're down 12.9% YTD.
From their December 31, 2024 update, the same fund had $321m in FUM, so almost down $100m in FUM since the start of the year. About $41m of the FUM was due to the 12.9% decline due to performance, meaning there was about $55m in fund outflows. For a fund of $300m, this is a very large outflow so Platinum would have been a forced seller to fund the redemptions. Another stock is amplia therapeutics limited which reported interesting results. Platinum owned 10% of that and after the announcement, the share price popped and then dropped back down, like SNT.
If it's just forced selling to meet redemptions, this could be a really good opportunity, assuming I didn't miss any negatives in the results.
Add to My Watchlist
What is My Watchlist?
