Share Name Share Symbol Market Type Share ISIN Share Description
Syncona Limited LSE:SYNC London Ordinary Share GG00B8P59C08 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  -3.00p -1.20% 248.00p 175,958 16:35:24
Bid Price Offer Price High Price Low Price Open Price
247.50p 248.50p 259.50p 247.00p 258.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 28.75 5.14 0.78 317.9 1,639.8

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Date Time Title Posts
10/5/201914:05Wellcome to Syncona333
28/1/201702:52Welcome to Syncona 2
20/12/201615:28Synchronica - Mobile Technology - 20124,755
08/3/201200:18Synchronica SYNC - Mobile Phone Technology - 20113,347
05/3/201213:48SYNC - formerly DAT Group12

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Syncona Daily Update: Syncona Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker SYNC. The last closing price for Syncona was 251p.
Syncona Limited has a 4 week average price of 239p and a 12 week average price of 238p.
The 1 year high share price is 306.50p while the 1 year low share price is currently 212p.
There are currently 661,222,309 shares in issue and the average daily traded volume is 349,181 shares. The market capitalisation of Syncona Limited is £1,639,831,326.32.
robow: from Investment Trust Insider Syncona’s funds boss exits as Bacit portfolio wound down By Vicky McKeever 15 Mar, 2019 Syncona’s funds boss exits as Bacit portfolio wound down Arabella Cecil, head of fund investments at Syncona (SYNC), is leaving the top-performing life sciences investment trust after the company decided to sell most of her portfolio which was hit hard by stock market falls at the end of last year. Cecil was chief financial officer at the Battle Against Cancer Investment Trust (Bacit), an innovative fund that persuaded the fund managers in which it invested to waive their fees so the money could be donated to research into fighting the disease. At the end of 2016 it merged with Syncona Partners, the investment arm of the Wellcome Trust, to form the UK's largest listed life sciences fund with a current market value of £1.6 billion. For the past two years Syncona has used the legacy Bacit portfolio of hedge and absolute return funds as a pool of capital to finance successful investments in 10 start-up life sciences companies. These include cancer specialists Autolus and Nightstar which it helped found and float on the Nasdaq, the US technology stock exchange, last year. At the end of December, Cecil's funds portfolio stood at £282 million, alongside £130 million of cash, having generated £40 million of gains since the merger. However, according to Syncona's broker Numis Securities, it fell 8.7% in the fourth quarter as global stock markets tumbled. Although this was less than the 10.2% slide in the FTSE All-Share, it was a disappointing performance for a portfolio that sought to minimise stock market volatility and was equivalent to a £3.9 million loss. This week Syncona announced it would wind down the funds portfolio in the next three-to-six months and hold more cash and cash equivalents. Its aim was to focus on 'liquidity and capital preservation' it said. Cecil will remain with Syncona while the portfolio is run down. Syncona chief executive Martin Murphy said: 'I would like to thank our head of fund Investments, Arabella Cecil, for her great contribution to Syncona, successfully managing the fund investments as part of our strategic pool of capital to enable us to fund our vision to create global leaders in life science.' Cecil's departure will leave two senior directors from Bacit at Syncona: Thomas Henderson, the brother of fund manager James Henderson, who founded the investment trust in 2012 and who sits on its board as a non-executive director; and Jeremy Tigue, the former F&C (FCIT) fund manager who has been its chairman since launch. The plan to liquidate the old Bacit funds portfolio comes as Syncona's red-hot share prices shows signs of cooling down. Investor excitement at Syncona's apparent prowess in backing the right firms at the cutting edge of diagnostic developments has seen its shares nearly double in the past three years, rising nearly 33% last year alone to peak earlier this month at a 51% premium over net asset value (NAV). However, since 4 March, when the company revealed it would receive a £135 million windfall from the £633 sale of Nightstar to Biogen, the shares have fallen 16% or 47.5p to 247p as the premium has halved to 26% over NAV. A sale this week by Wellcome Trust of 57 million or 8.7% of Syncona shares may help set a new floor for the price. The shares were placed with institutional investors at 245p, a 5% discount to their share price on Wednesday's close. Wellcome had planned to sell 45 million shares but increased the amount it was disposing in response to investor demand, according to Numis. It made £141 million, retains a holding of 28.1% in Syncona and has undertaken not to sell any more for 180 days. .
tiger blue: Syncona is an investment trust whose business is life sciences, since the Wellcome deal the investment funds side is there ONLY to fund the life sciences business, they have simply chosen to accelerate the encashment of this. NEGATIVES- no dividend (this was funded from the income on the funds side). Increased cash drag, short term excess cash earning relatively little. I suspect this is what continues to pressure the share price. POSITIVES - reduced volatility from funds market exposure and greater certainty of available cash to fund projects. They clearly feel the existing portfolio and any additions under consideration are of sufficient quality that they will justify having the cash available to deploy in the relatively short term. Very little cash is spent in the earliest stages, perhaps a million or two during the investigative process, but once there is confidence in the science the spending ramp up may be significant. They view investee businesses in terms of what they are capable of being worth if successful, typically £500m or £1bn candidates. Autolus is fairly well known now, but look at Gyroscope which has just dosed the first patient for dry AMD. That is a huge market which would dwarf the rare retinal diseases targeted by the now sold Nightstar, but as it progresses may deserve major investment. One other point - I was fortunate to attend the institutional investor day at Wellcome after the Syncona deal was originally announced. There were a lot of interested US investors there but that has not yet translated into major holdings, I queried this much later and was told that the US investors prefer a pure play and could not get their head round the hybrid nature, or at least would not invest with the funds side still attached. This may be another reason they have accelerated the drawdown, perhaps with the encouragement of new joint broker Goldman Sachs, who will find it easier to market the company now to US institutions.
tiger blue: Thoughts on Nightstar sale, share price reaction and dividend: Lack of strength in the share price may seem odd given the large premium paid by Biogen for Nightstar. This is due to some surprise over an apparent change in strategy in not taking the product all the way to market, and the fact that Syncona already trade at a premium to nav, ie some of the expected upside was already factored in. There has also been some broker comment on 'cash drag', in that the proceeds will in the short term simply add to the cash pile and will not add value until further new investments are found. For what it's worth I am happy to trust management's view that this was the appropriate exit, the Nightstar trials are not without risk, and I don't think the overall longer term approach has changed. I am also happy for them to carry excess cash to fund new projects, where they seem to have stepped up the pace lately, at least in terms of actually signing deals. Dividend - much as I, like most private investors, appreciate some regular income I would be wary about expecting a dividend increase this year, in fact you may see the opposite. This is not from any position of weakness and they have made decent gains, but the life sciences sector they are increasingly in as the funds side is sold down traditionally seeks capital growth not income. If you are in any doubt I would refer you to their last annual statement: “The Board will review the dividend policy over the next 12 months as Syncona moves further towards becoming predominantly invested in life science.” As a now retired broker I know the company very well, having met them many times since supporting the original launch of BACIT at 100p, but couldn't comment before for obvious moral and compliance reasons with clients holding the stock. I have what any sensible person would deem far too big a percentage of my own assets in Syncona, but these are world class individuals in their field with early access to some of the best ideas coming out of the UK and beyond, and I think it has all the ingredients for continued success over the long term.
sev22: It says under the Investors section on Syncona's website that they are issuing a Quarterly Statement next Wednesday the 13th of February. Hopefully this will help push the share price back to £3.00 plus.
luxaeterna1: Share price is a bit perky the last few days..good to see. Been some ok PR recently and the Autolus/BED rollout seems to be going well. With BED having annual sales of ~ £70mpa a while ago, profitable and growing quickly, I wonder if we could say that £200mpa sales is perhaps 18 months away?
rambutan2: brexitplus, I agree that SYNC is more classy, and I've held onto most of my shares. But ARIX does hold some interesting stakes, has over £100m cash and is approaching a 20% discount. An rns revealed an overhang has been cleared today, which explains why the share price has rather drooped recently. Could offer a trade, if nothing else.
rambutan2: Below, the headline from an article worth reading on Citywire re Numis note: Numis' healthcare and life sciences analysts this week formally started coverage of Syncona with a target share price of 320p, compared to last night’s closing share price of 269p.
rambutan2: New funding round and write up for NightstaRx: And May factsheet: hTTp://
restassured: Stonecap Securities says Synchronica offer below expectations, deal not "imminent" 8:53 am by Deborah Sterescu Capital markets firm Stonecap Securities said Wednesday that the now firm takeover offer for Synchronica (LON:SYNC) (CVE:SYN) from Swiss rival Myriad Group AG has come in below expectations, with talks expected to continue and a deal not appearing "imminent". Indeed, mobile messaging firm Synchronica advised shareholders to take no action after Myriad firmed-up its initial approach, which was rejected, into a full takeover offer. The Swiss firm has made an all-share bid worth 13 pence (around 20 US cents) per share, valuing Synchronica at about £20.6 million (US$32.0 million). Myriad added that it will continue discussions with Synchronica's board to try and get the offer recommended by the directors. The Myriad offer is an all-stock deal that entitles each holder of 100 Synchronica shares to 4.67 shares of Myriad Group AG. The offer represents a 17.6 percent premium to yesterday's close of $0.17, but represents a 90 percent premium to the 30-trading day average share price that the stock was trading at prior to January 3, 2012, when talks between the two companies were first confirmed publicly, Stonecap said. "Although the current offer is at a 90% premium to the average trading price in the 30 days before talks between the two companies were confirmed, Synchronica shares were trading at a 52-week low post the ouster of the former CEO, and amid a comprehensive company-wide restructuring," said Stonecap Securities analyst, C. Scott Rattee, CFA. The research note continued: "During our discussion with management last week, they appeared very upbeat on the financial prospects of the company post the restructuring, which was complete in December 2011. "The Myriad offer remains well below the most recent financing conducted in mid-July '11 at the issue price of $0.25. We regard this level as a minimum bid and also regard the all-stock proposal as a detractor to the offer," the capital markets firm concluded. Stonecap's Rattee noted that talks are expected to continue over the next few days, but in the absence of a better offer by Myriad, Stonecap would look for Synchronica to prepare a defense document to repel Myriad as a potential suitor. However, Stonecap also estimates that Synchronica's executive management team and board of directors collectively own less than one percent of shares outstanding, therefore not representing much of an obstacle in a vote. Stonecap has a $0.60 price target on Synchronica and an "outperform" rating. Synchronica's board had rebuffed the Myriad approach previously, and two weeks ago, the firm issued a bullish trading update stating it expected latest full-year revenues to be marginally ahead of market expectations. Myriad said a merger would give Synchronica shareholders an investment in a company with a larger established base of installed products, a global spread of revenues and a stronger balance sheet. It added that Synchronica had an obligation to pay deferred acquisition consideration to Nokia of approximately US$20.2 million before 31 December 2015 and does not believe in its current financial position and with its future prospects, Synchronica will be able to repay the Nokia debt. Myriad's chief executive, Simon Wilkinson, said: "We view our all share offer as attractive to the shareholders of Synchronica." "It represents a significant premium to Synchronica's volume-weighted average share price in November and December 2011 and a compelling value proposition, affording Synchronica shareholders continued participation in a combined business that we consider will be a leader in mobile software technology, with an enhanced product portfolio and cross-selling
davidlloyd: Tell you what eggflip - the SYNC share price they quote in that article is stunning..... 'On Monday, Synchronica Plc rose 1.22% to £12.40 (SYNC has a 52 week trading range of £11.78 to £32.00 a share) for a market cap of £1.79 billion' source:- Smallcap network :-) DL
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