SMALL-CAP WINNERS & LOSERS: EnQuest falls on production output warning

(Alliance News) - The following stocks are the leading risers and fallers among London Main ...

Alliance News 2 September, 2021 | 10:55AM
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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.

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SMALL-CAP - WINNERS

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Tiziana Life Sciences PLC, up 18% at 72.35 pence, 12-month range 46.44p-206.00p. The clinical stage biotechnology company alongside US peer Precision BioSciences announce an exclusive license agreement to evaluate Tiziana's Foralumab, an anti-CD3 monoclonal antibody in conjunction with allogeneic CAR T candidates for cancer treatment. The companies would explore Foralumab as an agent to induce tolerance of allogeneic CAR T cells to potentially improve the clinical outcome of CAR T cell therapy. Under the terms, Tiziana will receive upfront payment, certain milestone payments, and royalties for Foralumab.

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Gym Group PLC, up 3.4% at 292.58 pence, 12-month range 116.00p-317.50p. The no-frills gym chain reports rise in membership as restrictions ease. For the six months ended June 30, pretax loss barely narrows to GBP28.5 million from GBP28.6 million the year before, as administrations costs remain high at GBP54.6 million, and revenue declines 21% to GBP29.3 million from GBP37.3 million. However, membership numbers at the end of June rose to 730,000 from 698,000 a year prior. Looking ahead, membership numbers at the end of August dipped to 721,000 from June, but sees higher membership levels in September and October as students return to universities. "Despite the significant disruption caused by the pandemic, Gym Group is well placed to continue its steady recovery and plans for growth as it capitalises on a return to more normal activity," says Edison analyst Richard Finch.

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SMALL-CAP - LOSERS

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EnQuest, down 7.7% at 23.30p, 12-month range 8.67p-26.95p. The oil and gas firm reports narrowed first half loss, but warns full-year production will be at the lower end of the guidance range. For six months to June 30, its profit after tax narrowed to USD56.4 million from a USD472.4 million loss last year. Looking ahead, EnQuest sees 2021 average net production at the lower end of the guidance range of 46,000 barrels of oil equivalent per day and 52,000 boepd. This reflects expected performances at Magnus, the Greater Kittiwake Area and PM8/Seligi over the course of the second half of the year, it says.

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SDCL Energy Efficiency Income Trust PLC, down 3.7% at 113.17p, 12-month range 104.50p-119.00p. The investment company intends to raise GBP175 million via a share issue at 110.50p each, which is 6.0% discount to Wednesday's closing share price of 117.50p.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Headlam Group PLC 425.00 GBX 1.19 -
Gym Group (The) PLC 265.50 GBX 2.12 -
Tiziana Life Sciences PLC
EnQuest PLC 21.70 GBX -0.23 -

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