Qube Research’s bearish forecast puts more pressure and lifts short positions to €56 million.

bear bottom Study Cube put more pressure on Grifols after raising its short position to 1.23 percent of capital from its previous position of 1.19 percent, according to National Securities Market Commission reports.

In total, this hedge fund’s short positions against Grifols reached a market value of €56 million, adding to the €23 million it had placed. worldquantanother quantitative fund, total 79 million in bearish positions, 1.74 percent of capital.

Qube Research is a quantitative fund that specializes in complex algorithms and seeks to benefit from abnormal market situations.

Shortly after the Grifols crisis occurred, short selling started at 0.5 percent and the pressure gradually increased to three times in just two weeks.

The way Grifols is moving is reminiscent of one of the most famous strategies in the traditional investment recipe: averaging down.

With the initial investment going against him (he reported his first short position on the stock at €9.5), he appears to be averaging out his losses.

Grifols promotes star drug Biotest

Shares of the blood products maker were trading slightly higher this Wednesday after the company announced positive results from a phase 3 trial of one of its compounds, BT524, a fibrinogen concentrate developed by its subsidiary Biotest.

These results “mark a milestone in the advancement of this potential treatment for acquired fibrinogen deficiency (AFD), a growing market that has not yet been reached,” Grifols said.

The company now plans to begin the regulatory approval process in Europe and the US in the fourth quarter of 2024. In the US market alone, the potential of this concentrate is $800 million.

Grifols stabilizes price

The new bearish turn of the screw comes after Grifols managed to stabilize its price at €10.4 after bottoming at €8.2 in January, according to a report from Gotham City Research.

The company is taking steps to relieve market pressure and try to restore confidence. These include the appointment of Nacho Abia as the new CEO and the separation of the family from the group’s management.

These are measures that the market was favorably disposed to even before the US bear crisis, and to a certain extent, “these issues only serve to improve the investment thesis in Grifols,” broker Berenberg recalled.

Now the next big event for Grifols is the annual results, which the group will present on February 29th. Market sentiment was strong following numbers reported on Wall Street by plasma products firm Haemonetics, Citi explained.

Haier Group sales progress

Additionally, another derivative that plays against bearish investors is the sale of the Chinese subsidiary of Haeier Group, which is moving in the right direction.

The Chinese buyer has just notified the National Markets and Competition Commission (CNMC) of the transaction, which “should alleviate doubts regarding its closure within the planned time frame,” Banco Sabadell analysts said.

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