Alteogen (196170.KQ), Hyundai Motor (005380.KS), Naver (035420.KS) and Samsung Electronics (005930.KS) were the top net purchases among high-yield investors trading through Mirae Asset Securities on Monday morning.
According to Mirae Asset Securities, the "stock masters" — investors in the top 1% by returns over the past month — bought more Alteogen shares than any other stock by 11 a.m., even as the stock plunged more than 10%.
As of 11 a.m., Alteogen was trading at 458,500 won, down 11.66% from the previous session. Investor sentiment cooled sharply after news that a German court approved an injunction filed by Alteogen's competitor Halozyme to halt distribution and sales of Keytruda SC, sold by U.S. drugmaker Merck (MSD) in Germany. Merck is Alteogen's partner company. Alteogen signed a license agreement with Merck in 2020, granting rights to use "Berahyaluronidase alfa (ALT-B4)." According to Halozyme, the Munich Regional Court's 7th Civil Division recognized infringement related to one of its European patents, MDASE.
Despite the setback, top traders appeared to view the sharp decline as a buying opportunity. Hana Securities recently issued a report recommending investors "hold pharmaceutical and bio stocks from a mid- to long-term investment perspective, looking at least through the first half of next year." The brokerage added that "companies with confirmed events next year (such as Alteogen, which is set to transfer its listing to KOSPI) or temporarily undervalued companies (such as Samsung Biologics and Samsung Epis Holdings) are attractive."
Alteogen's ALT-B4 is a technology that converts intravenous drug formulations into more convenient subcutaneous injections. The company has signed substantial contracts with global pharmaceutical companies including Merck, Intas, Sandoz, Daiichi Sankyo and AstraZeneca. Securities analysts expect technology exports to continue as Alteogen signs contracts providing exclusive rights to use ALT-B4 for "specific components."
Hyundai Motor ranked second in net purchases. DS Investment & Securities significantly raised its target prices for Hyundai Motor and Hyundai Mobis (012330.KS) on Monday — from 330,000 won to 430,000 won for Hyundai Motor and from 360,000 won to 490,000 won for Hyundai Mobis. "Hyundai Motor is expanding market share faster than any other automaker globally, yet its valuation remains at historical lows," said Choi Tae-yong, a researcher at DS Investment & Securities. "AI-based software competitiveness, including autonomous driving, is dispersed across affiliates such as Hyundai Mobis, Hyundai AutoEver, 42dot and Boston Dynamics, and this structural limitation has led to Hyundai Motor's undervaluation." Choi analyzed that the prolonged valuation discount could be resolved if governance restructuring centered on consolidating software capabilities begins in earnest. He forecast that as new businesses such as robotics gain prominence, stock revaluation would accelerate along with software capability synergies once governance changes take effect.
Naver ranked third in net purchases. Following the Dec. 26 announcement that Naver and Dunamu approved a comprehensive stock swap between Naver Financial and Dunamu, securities analysts have been uniformly positive, calling it "Naver's definitive new growth engine." The combination of Naver Financial and Dunamu is expected to grow Naver's consolidated operating profit to more than 4 trillion won after the merger is completed in 2027. "The merged entity will be the biggest beneficiary of Phase 2 digital asset legislation," said Lee Hyo-jin, a researcher at Meritz Securities, noting particularly the potential for interest income from stablecoin business.
The top net sells on Monday were Korea Electric Power Corp. (015760.KS), LS Electric (010120.KS) and Orum Therapeutics (475830.KQ). On the previous trading day, SK hynix (000660.KS), Orum Therapeutics and Korea Electric Power Corp. led net purchases, while Samsung Electronics, Clobot (466100.KQ) and Samyang Foods (003230.KS) topped net sells.
Mirae Asset Securities compiles trading data from investors in the top 1% by returns over the past month and publishes real-time, previous-day and five-day statistics on its mobile trading system. This statistical data is simple information unrelated to Mirae Asset Securities' opinions and does not guarantee investment suitability or returns for individual investors. Investors should also note that theme stocks may experience unusual volatility.
