Scale Market Report: Indices at All-Time Highs – Columns

Another success story is pulling the segment upwards: Scale member Formycon has announced the development of a successful corona drug. But Formycon is by no means the only address where it works.

December 16, 2020. FRANKFURT (Frankfurt Stock Exchange). While the DAX has been standing still for weeks, the Scale All Shares Index and the Scale 30 selection index are constantly climbing new heights. The new workhorse is Formycon (WKN A1EWVY). The biotech company from Martinsried-Planegg near Munich has developed a SARS-CoV-2 blocker called FYB207. As became known last week, it completely prevents cells from being infected.

The news triggered a real price rally: The company’s share, which focuses on high-quality biopharmaceutical successor products (“biosimilars”), rose from EUR 32 to over EUR 72 within a short period of time. Currently it’s still 68 euros.

Beneficiary of electromobility

IBU-tec advanced materials (WKN A0XYHT). The service provider for thermal process engineering and specialist for rotary kilns announced in October that it would be launching its own product in the field of battery materials on the market in 2021. This is intended for use in LFP battery cells (lithium iron phosphate), which are mainly used for electromobility and stationary energy storage – a real future market. In mid-October the share cost 12 euros, now it is 30.40 euros.

Cliq and Naga with course sixfold

There are also addresses such as Cliq Digital, The Naga Group, 2G Energy or Ökoworld, which have been performing very well for a long time. Cliq Digital (WKN A0HHJR) remains number one in the scale segment for a period of twelve months: The share of the Düsseldorf-based company, which offers streaming of films, music or audio books, cost less than 3 euros at the beginning of the year, now it is 18.40 euros. The second best performer over a twelve-month period is still the fintech The Naga Group (WKN A161NR). The price has recently made another leap up and has increased almost sixfold since December 2019. Naga is now followed by the provider of ethical-ecological funds Ökoworld (WKN 540868) and the software company EQS Group (WKN 549416).

The Scale All Share Index stood at 1,433 points on Tuesday morning after 1,254 points in mid-November, an increase of 33 percent since the beginning of the year. The Scale 30 is now at 1,503 meters after 1,288 a month ago, which has been an increase of 31 percent since the beginning of the year. Both indices leave the DAX far behind. Compared to the beginning of the year, it is still in the red.

However, there are also disappointments: The biggest loss makers are currently Vectron Systems, mVise, Pantaflix, Deutsche Rohstoff AG and Cyan. The shares have lost between 26 and 43 percent since mid-December 2019.

Formycon price explosion: justified or exaggerated?

Is Formycon the new biontech? In any case, Hauck & Aufhäuser is in a positive mood: Formycon is likely to meet with the results of the large pharmaceutical companies, they say. A partnership could accelerate the development process. The analysts raised the target price from 50 to 75 euros. On the other hand, Kepler Cheuvreux considers the reaction on the stock exchange to be a little exaggerated. The analysts justify this with the early stage: clinical development will not begin until the end of 2021, and approval will not be possible until the end of 2022 at the earliest. The investment rating remains at “Buy”, but the price target of 45 euros is now well below the market level.

Analysts: Media & Games still have potential

Recently, Media & Games Invest (WKN A1JGT0). Some analysts have even more confidence in the share, which has only been traded in the Scale stock exchange segment since July: For example, the analysis company GBC sees the company as continuing to grow. The expansion of mobile gaming activities will open up additional high sales potential. The price target is now 3.20 after 2.95 euros previously. First Berlin raised its target price from EUR 2.50 to EUR 2.80 and confirmed the “Buy” recommendation. The nine-month report shows continued good business momentum.

Further recommendations for Scale shares

Analysis house / bank Scale company recommendation Target price in euros current rate in euros
GBC The Naga Group to buy 4.30 3.46
Hauck & Aufhäuser The Naga Group to buy 5.90 3.46
GBC German property auctions to buy 18.75 15.40
GBC EQS to buy 31.70 26.40
BankM Datron to buy 11.65 8.55

by: Anna-Maria Borse,
© December 16, 2020, Deutsche Börse AG

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