We have detected a dark pool trade in CTLT stock on January 10, 2020, after Catalent announced a collaboration with BridgeBio.
That single dark pool order represented 25% of the average daily volume in CTLT stock! It looks like a buy order occurred because the price of CTLT stock rose immediately after the print. It’s hard to see on the chart of CTLT above so here is a zoomed in view.
Another reason we think this dark pool trade may be a buy order is because we have identified a catalyst.
BridgeBio Pharma (BBIO) announced a collaboration agreement with Catalent (CTLT) to establish dedicated gene therapy development and manufacturing capacity at Catalent’s Paragon Gene Therapy clinical and commercial manufacturing center in Harmans, Maryland. The agreement is intended to support the clinical and commercial manufacturing needs for BridgeBio’s gene therapy product candidates for congenital adrenal hyperplasia, BBP-631, and Canavan disease, BBP-812. Catalent’s commercial facility is fully compliant with cGMP requirements and allows for up to 5000 liters of production. The over 400,000 square feet footprint is complete with all necessary support functions for storage and fill finish for final product supply.
Back on November 5, 2019, Catalent, Inc. (NYSE:CTLT) announced financial results for the first quarter of fiscal year 2020, which ended September 30, 2019. Catalent reported Q1 adj. EPS of 26c versus the consensus estimate of 24c. The company reported Q1 revenue of $664.7M versus the consensus estimate of $636.72M.
“Our financial performance for the first quarter was aligned with our expectations and provides a strong start to our fiscal year 2020,” said John Chiminski, chair and CEO of Catalent. “We continue to benefit from the robust market demand within the CDMO industry, our leadership position, and the recent investments within Biologics, including gene therapy. Our May 2019 acquisition of viral vector developer and manufacturer Paragon Bioservices has already begun to accelerate Catalent’s financial growth and is creating substantial value for our customers, patients, and shareholders.”
What’s Next? Make Sure To Review This Lesson On Dark Pool Trading!