Is This A Much-Needed Win For Midatech Pharma Plc (MTP)?

Midatech Pharma Plc (NASDAQ:MTP) is on recovery track with 53.98% gain from a 1-year low price of $0.12. The company lost -5.05% to attain the price of $0.19 on 01/11/2019. Throughout the recent session, the prices were hovering between $0.18 and $0.21. These shares have market capitalization of $11.6M. The recent change has given its price a -29.13% deficit over SMA 50 and -89.45% deficit over its 52-week high. The stock witnessed 6.87% gains, -66.09% declines and -73.24% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found MTP’s volatility during a week at 16.87% and during a month it has been found around 20.54%.

A string of upbeat news around this week’s JPMorgan Healthcare Conference has helped propel biotechnology stocks to their best-ever start to the year. The Nasdaq Biotechnology Index, a bellwether of investor sentiment, has seen a 13 percent jump in 2019 after Bristol-Myers Squibb Co. kicked off the year with a record takeout of Celgene Corp. The nine-day winning streak is the longest in five years and the best start to a year since the index was created in 1993. The broader S&P 500 is up 3.6 percent year to date, while the S&P 500 Health Care Index is up just 1.6 percent.

“It really is amazing how investor sentiment can turn on a dime and how it takes one piece of big news to do that,” Brad Loncar, chief executive of Loncar Investments, said in an interview at the conference in San Francisco. But after a tumultuous fourth quarter, biotech investors still need to see more deals and easing macroeconomic headwinds “to get us back on the right track,” he said.

Highlights around the year’s largest health-care conference included a pair of multibillion dollar takeovers, bullish commentary from management teams and strong data on an experimental treatment for postpartum depression. Analysts have predicted an uptick in takeouts of both drugmakers and medical device companies in 2019.

While health stocks tend to be thought of as a safe haven in times of volatility, the impact of the U.S. trade war with China and growing debate around drug pricing has contributed to uncertainty over valuations.

“We got a sense that the angst that had defined the Street in late 2018 has begun to shed with the focus clearly on new ideas and less concentration on the broader market,” Jefferies trading specialist Jared Holz said after the conference.

The ongoing government shutdown may pose a risk to how long that optimism will last.

Midatech Pharma Plc 13F Filings

At the end of September reporting period, 2 institutional holders increased their position in Midatech Pharma Plc (NASDAQ:MTP) by some 15,390 shares, 4 decreased positions by 36,925 and 3 held positions by 46,545. That puts total institutional holdings at 98,860 shares, according to SEC filings. The stock grabbed 1 new institutional investments totaling 11,770 shares while 2 institutional investors sold out their entire positions totaling 27,862 shares.