In "The Big Banks," Citigroup: WUXI BIO and WUXI XDC fell on Thursday due to non-fundamental drivers
Citi published a report indicating that WuXi Biologics (02269.HK) and WUXI XDC (02268.HK) fell approximately 7% and 8% on Thursday (26th), while the overall CRO/CDMO companies listed in Hong Kong dropped about 2% to 9%. The firm believes that this decline is not driven by fundamentals, but rather dominated by position adjustments and capital flows.
The report states that the current pullback is a technical/short-term fluctuation, rather than a result of deteriorating demand or execution capability. In the absence of catalysts during this market window, industry leaders may still experience overselling, which will create a more attractive entry opportunity for investors with a 3 to 12-month investment horizon
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