Share Name Share Symbol Market Type Share ISIN Share Description
International Biotechnology Trust Plc LSE:IBT London Ordinary Share GB0004559349 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  -2.50 -0.33% 748.00 60,922 16:35:02
Bid Price Offer Price High Price Low Price Open Price
746.00 756.00 754.00 747.00 754.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 1.13 -2.06 -5.79 308
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:02 UT 23 748.00 GBX

International Biotechnol... (IBT) Latest News (1)

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International Biotechnol... Investors    International Biotechnol... Takeover Rumours

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Date Time Title Posts
20/5/202114:55International Biotechnolgy Trust335
29/4/201910:54International Boitechnology Trust148
21/10/200104:31"Biotech names selling on air"2
28/12/200012:08Soros buys Int.Biotech stake5
17/7/200018:11Int Biotech1

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International Biotechnol... (IBT) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-06-14 15:35:01748.0023172.04UT
2021-06-14 15:27:49752.007,04752,993.44O
2021-06-14 15:25:28751.90132992.51O
2021-06-14 15:22:07749.703002,249.10O
2021-06-14 15:21:05751.86120902.23O
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International Biotechnol... (IBT) Top Chat Posts

International Biotechnol... Daily Update: International Biotechnology Trust Plc is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker IBT. The last closing price for International Biotechnol... was 750.50p.
International Biotechnology Trust Plc has a 4 week average price of 699.50p and a 12 week average price of 669p.
The 1 year high share price is 862p while the 1 year low share price is currently 669p.
There are currently 41,178,817 shares in issue and the average daily traded volume is 73,626 shares. The market capitalisation of International Biotechnology Trust Plc is £308,017,551.16.
melloteam: Just to let shareholders and prospective investors know that IBT, ANGLE plc, Inspiration Healthcare Group plc, Polarean Imaging plc and Diaceutics will be presenting at Mello Events’ Healthcare webinar on the 25th May at 5:30pm-9:30pm. The webinar will also include the latest insights and analysis from investment managers, research professionals, analysts and experienced investors. If you are a shareholder and you would like a ticket to the Healthcare event, please use the code SHVIP75 to receive 75% off your ticket. Https:// Additionally, on the 24th May, The Property Franchise Group PLC and Samarkand will be presenting at the MELLOMonday webinar event on 24th May at 6pm-9:30pm. There will also be special insights from Michael Taylor (@shiftingshares): Using technical analysis to find trades. There will be over 600 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions including the popular Mello BASH (Buy, Avoid, Sell or Hold). If you purchase a ticket to MELLOMonday, you will automatically get sent a link to the healthcare event! Tickets are still available and if you would like one at half price then enter the code MMTADVFN50. Https://
speedsgh: Changes afoot at International Biotech after Janson’s exit - HTTPS:// International Biotechnology (IBT) is planning changes to improve performance and reduce trading costs two months after lead fund manager Carl Harald Janson stepped back from the £284m investment trust. Ailsa Craig and Marek Poszepczynski, who have worked with Janson for over six years, have taken charge of the SV Health Investors-run portfolio with Janson remaining in touch as a senior adviser. The reshuffle has prompted Stifel analyst Anthony Stern to assess IBT’s record since Janson (pictured) joined in 2013 with a big reputation from a six-year stint running the Carnegie Biotechnology fund. Stern described the trust’s performance as ‘fine’ rather than exceptional. In the seven-and-a-half years to 29 March, its underlying net asset value (NAV) grew 180%, beating the 165% return from the Nasdaq Biotechnology index but lagging rivals such as BB Biotech (BION) and Biotech Growth Trust (BIOG) which both delivered 227%. IBT’s shareholder returns were considerably stronger, at 230%, as Janson presided over a rerating of the trust whose shares moved from a mid-teens discount to trade close to NAV after a decision to pay out 4% of net assets each year in dividends. Stern was not concerned by the promotion of Craig and Poszepczynski, but after what he called the ‘mediocre’ returns relative to the index of the last five years, he did call for changes to broaden the team’s resource, increase use of leverage (borrowing) and reduce churn in the portfolio. Gradual changes Speaking to Investment Trust Insider, Craig said they had worked together as a team for many years and remained ‘wedded to the current strategy’. However, she said there would be changes. One step will be bringing down the amount of trading done within the portfolio where annual turnover has been running at about 200% – in other words, the entire portfolio changes twice in a year, adding to the costs borne by investors. Data from Numis Securities shows the trust’s overall ongoing charges are 1.39% year, slightly above the 1.16% average of its direct rivals. ‘Marek and I are a bit more buy-and-hold and valuation driven,’ said the manager, who has been at SV since 2006. She said turnover had already fallen to about 180%, putting it on track to hit the 100-150% range Stern believes it will settle at in the long run. Other concerns raised by the Stifel analyst included the team’s depth and sources, with a smaller investment team than BIOG and BION. Stern said SV had acknowledged this and in addition to hiring were looking to work more closely with the firm’s 50-strong investment team working on unlisted healthcare stocks. Another shift is a greater use of leverage, where Janson was fairly conservative. By borrowing, trusts can increase returns in rising markets as well as losses on the way down. According to Stern, the team can gear up to 15% of NAV, although this is likely to be limited to 10%, above the 0-9% range of recent years. Lastly, the analyst questioned the transparency around private investments which accounted for 10.7% of the trust at the end of February. These are overseen by SV’s managing partner Kate Bingham, currently best known for leading the UK Vaccine Taskforce. Half-year results last month showed IBT had made a 23.5% since first investing in Bingham’s SV Fund VI in which the private equity stakes are held, but provided little other information. Searching for alpha One reason for IBT’s high portfolio turnover is how the team manage ‘binary events’, particularly the publication of trial data and drug approvals. The shares of biotech companies often move sharply around these, with investors betting on the outcome ahead of time. Instead, IBT has typically traded out of stocks before that point, then jumping back in if they like the outcome and valuation. Craig (pictured) said this strategy would continue. Another reason for high turnover is frequent mergers and acquisitions (M&A) activity in the sector. Four holdings were taken out from last September to February, with the acquisition of Immunomedics by Gilead Sciences, also held, proving the biggest performance driver during that period. That is a trend the fund managers hope will continue, having positioned the trust away from ‘frothy’ early-stage companies towards more mature names with proven drugs, some of which could be takeover targets. While the healthcare sector broadly enjoyed a strong 2020, the managers said this had been led by earlier-stage firms and Covid-19 vaccine names like Moderna. The Healthcare sub-sector of S&P 500 is today at a 30% discount to the wider index on a forward earnings basis. That is a low over the last three decades, otherwise seen only on the eve of Obamacare in 2009, according to an interim results presentation. The pair pointed to concerns over drug pricing continuing to cast a shadow, despite US President Joe Biden’s relative moderate stance and the Democrats’ fragile control of Congress, making action less likely. Craig outlined a couple of big holdings that had enjoyed strong product launches recently. They have been adding to top 8.1% holding Horizon Therapeutics on the back of the launch of Tepezza for thyroid eye disease, which has been ‘shooting the lights out every quarter’. PTC Therapeutics, a 4.3% position, already has a muscular dystrophy drug on the market and has partnered with Roche to launch an oral drug to address spinal muscular atrophy in children. ‘Outlook-wise, we’re hopeful that the names we own will get picked up from M&A and then give us some alpha,’ said Craig. Poszepczynski also argued their cheaper portfolio was less exposed to loss-making names as sentiment shifts during the economic recovery. ‘When we had this push of interest rates in mid-February, you could see that the small cap biotech index, XBI [the ticker of the SPDR S&P Biotech ETF], was hit badly,’ he said. That thesis has not entirely been borne out in performance so far this year, however. Year to date to 12 May, the trust’s NAV has fallen 14.2% and the shares are down 15.7%, versus the Nasdaq Biotechnology index’s 6.1% fall.
rocketblast: Fund now hitting newspapers and share mags as a recommendation. Looks like we will see a nice move from here. My target 850 plus and 1000 following further news flow..any dips will be topping up strategy.
speedsgh: Carl Harald Janson is stepping back from his role as Lead Investment Manager to be replaced by existing investment mansgers Ailsa Craig & Marek Poszepczynski... Appointment of Joint Lead Investment Managers - HTTPS://
speedsgh: Dividend Declaration - HTTPS:// At the Annual General Meeting held on 15 December 2020, Shareholders approved the Company's dividend policy of making dividend payments, equivalent to 4 per cent. of the Company's Net Asset Value as at the last day of the preceding financial year (31 August), through two equal semi-annual distributions. The Directors have today declared the first Interim Dividend for the period ending 31 August 2021 in an amount of 14.2p per Ordinary Share. The first Interim Dividend will be payable on Friday, 29 January 2021 to holders of Ordinary Shares on the Register at the close of business on Tuesday, 29 December 2020 (ex-dividend Thursday, 24 December 2020).
shieldbug: Not so pleased to see how they calculate the dividend though. The 4% is calculated once a year and divided into two payments. So we don't get 2% of the mid July price.
shieldbug: This year IBT bought back about £1m of shares (172,546 shares) at an average price of £5.82 and have just issued 75,000 shares at £7.94. Rarely see great benefit from buy backs but that looks impressive.
speedsgh: Yes, it would appear that the benefits of the attractive dividend policy have been more than nullified by NAV performance where IBT has noticeably lagged its peers over the past 5yrs. It would certainly be pleasing to see that change. The irony of course is that the discount to NAV has narrowed significantly over the same time period.
mozy123: Quite disappointing, other healthcare/bio trusts on the move over the last few months. IBT nothing. Nothing for a fair few years, hopefully a rocket has been ignited somewhere in the portfolio.
davebowler: QuoteData- Beating the odds view report Strategic positioning in mid-2018 helped International Biotechnology Trust (IBT) beat its benchmark over the past six months and close its discount to net asset value (NAV). This continued its outperformance of the US Nasdaq Biotechnology Index (NBI) over three and five years. Active management of the portfolio and an increased focus on larger mid-caps played out well in terms of IBT’s performance versus its peers. IBT’s manager is maintaining its established policy of active risk mitigation, designed to avoid exposure to binary events that can cause large swings in the share price (typically the results of the Phase III trials that provide the final confirmation of safety and efficacy before the FDA approves a treatment for marketing). This should be seen as another attraction to investors in the trust. IBT’s shares have recently moved to trade at a premium to NAV and it has been issuing stock, expanding the fund. SECTOR: SECTOR SPECIALIST - BIOTECHNOLOGY AND HEALTHCARE TICKER: IBT LN BASE CURRENCY: GBP (PENCE) PRICE: 634.00P NAV: 636.40P PREMIUM/(DISCOUNT): (0.4%) YIELD: 4.4% spacer spacer spacer ACCESS TO THE FAST-GROWING BIOTECH SECTOR charticon spacer spacer spacer spacer IBT is the longest-established of the London-listed funds specialising in the biotech/healthcare sector. It aims to achieve long-term capital growth by investing in biotechnology and other life sciences companies, and offers investors the highest yield in the sector while keeping its day-to-day running costs low. The portfolio is invested primarily in quoted companies, but IBT also has some exposure to unquoted compani
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