2024-03-11 19:54:09
The American giant JP Morgan has emerged this Monday with a 5.18% position in Grifols that would be valued at around 271 million euros at current market prices. This potential emergence of the bank has occurred in the midst of great volatility for the blood products company, which remains in the eye of the storm after its recent presentation of results. Specifically, as detailed in the registration of the National Securities Market Commission (CNMV)JP Morgan currently has 1.55% of Grifols shares under its belt, to which it would be necessary to add 3.63% that it could acquire through financial derivatives if JP Morgan or, if applicable, , the client for whom you are acting as custodian, decides to execute them.
This position taken by JP Morgan has come at the same time as a series of investments made by the future CEO of Grifols, with both operations dated March 7. Nacho Abia, current external director of Grifols, and who will assume the position of CEO of the pharmaceutical company as of April 1, has acquired in recent days a package of 92,807 shares of the company for an amount greater than 688,000 dollars ( around 630,000 euros).
In the case of Abia, the purchases occurred at a unit price of $7.42, although it paid $7.71 for a package of 1,150 shares, as the company revealed to the CNMV.
Abia’s investments came a few days after the acquisitions of securities carried out by other directors and directors of Grifols: president Thomas Glanzmann announced the purchase of 52,000 shares, for 352,000 euros; the executive director Raimon Grifols Roura acquired 30,000 shares, for 196,500 euros; while the external director Tomás Dagá Gelabert acquired 100,000 shares, for 660,000 euros. Between the four directors, investments in the purchase of Grifols shares are around 1.84 million euros.
The operations coincide with the stock market storm over Grifols, following accusations of concealment of the pharmaceutical company’s accounts, launched by the bearish firm Gotham City Research at the beginning of the year. At the end of February, Grifols once again unleashed doubts after presenting the 2023 annual accounts without the signature of the auditor and without that of one of the directors, causing a historic drop in the stock market.
Last Friday, Grifols finally presented the accounts audited by KPMG trying to clarify doubts. The shares rebounded more than 19% during that session. This Monday, the titles rose by more than 10% at the beginning of the session, but the advances were diluted and, after midday, they fell by more than 3%. In the last part of the day the advances returned, and the shares closed the session with a rise of 2.22%, up to 8.48 euros.
In this scenario, in which Grifols has continued to receive attacks from Gotham with new reports, it is also suffering pressure from bearish investors, who have raised positions in recent days. Currently, Qube Research & Technologies maintains a short position of 1.47% of the capital; Millennium International Management, 0.62%; and Marshall Wace LLP, 0.61%. Furthermore, at the beginning of March, Capital Group, one of the pharmaceutical company’s main shareholders, reduced its participation from 5.1% to 4.6% of the capital.
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