Qube Research & Technologies Increases its Short Position in Grifols to 1.23%

Volatility continues in the Spanish pharmaceutical market in the context of the conflict between Grifols and Gotham City Research. Qube Research & Technologies has increased its short position on the multinational blood products company to 1.23%, from the 1.19% previously declared , as notified to the National Securities Market Commission (Cnmv).

That extra 0.04% is equivalent to just over 170,000 shares which, taking into account that the price increase occurred this Monday, would be valued above 1.8 million euros , since the shares of the Spanish company ended yesterday’s session trading at 10.69 euros.

This is an estimated calculation, since it is not possible to know the average price at which the Qube Research fund has built its position. Subsequently, the possible profit of this operation will also be affected by the average purchase price of the shares (in short positions you first sell, and then buy), the possible cost of leverage and the consideration offered to the holders from whom the has borrowed these shares.

For its part, the WorldQuant fund also has an open short position in the Catalan company that amounts to 0.51% , as reported to the CNMV on January 31st.

Read more about Qube Research and find the latest financial news of the day woth our companion app Born2Invest.

Qube Research increases stake in Grifols, while the legal dispute between Grifols and Gotham continues in a New York court

These operations took place after Grifols notified the CNMV on January 26th that, following reports that questioned its accounting and solvency, it had filed a lawsuit against Gotham City Research before the Southern District Court of New York. The lawsuit also referred to the director and founder of the fund, Daniel Yu, General Industrial Partners, Cyrus de Weck and its investees to request compensation for the financial and reputational damages caused to the company and its shareholders.

The complaint alleges that the defendants obtained “a considerable short position” in the multinational blood products company, subsequently publishing and distributing a report “containing falsehoods about Grifols’ accounting, communications, finances, and integrity.”

In this lawsuit, the Spanish company requests the application of precautionary measures so that the defendants recant and do not persist in their actions, while at the same time claiming financial compensation that, however, has not been quantified.

Qube Research and BlackRock increased their stakes in Grifols, despite the lawsuit.

__

(Featured image by Markus Spiske via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us