Camurus AB (publ) (0RD1.L) Bundle
Who's buying Camurus AB and why matters now more than ever: as of September 30, 2025 Sandberg Development AB controls a commanding 30.5% of shares, while institutional names like Fjärde AP-fonden (4.7%), Swedbank Robur Fonder (4.3%), Vanguard (2.4%) and Handelsbanken Fonder (2.3%) - plus CEO Fredrik Tiberg's 2.5% personal stake - together paint a mix of concentrated strategic influence and growing institutional conviction; yet recent dynamics matter just as much: Q3 2025 revenue rose 18% year-over-year to SEK 567 million but missed analyst consensus of SEK 625.65 million, sending the stock down 6.03% to SEK 553 after management trimmed full-year guidance, even as Camurus reported a 93% gross margin, a SEK 2.75 billion cash position and remained debt-free - facts that frame why Sandberg's near one-third holding, Vanguard's jump from 1.0% to 2.4% and Swedbank Robur's increase to 4.3% could be decisive for strategy, governance and investor sentiment going forward, so read on to unpack who holds the cards and what their moves mean for Camurus' next chapter.
Camurus AB (0RD1.L) - Who Invests in Camurus AB (0RD1.L) and Why?
Camurus AB (0RD1.L) attracts a mix of strategic long-term holders, institutional asset managers, and insider ownership. The investor base reflects confidence in Camurus' specialty in long-acting drug-delivery technologies, late-stage product pipeline, and potential for recurring revenue from commercialized products.- Strategic/Founding Owner: Sandberg Development AB - deep, long-term commitment and influence over strategic direction.
- Pension/So‑called sovereign-type investor: The Fourth Swedish National Pension Fund (AP4) - seeks durable returns from healthcare innovation.
- Large Swedish asset managers: Swedbank Robur and Handelsbanken Fonder - allocate to leading domestic biotech names for growth and diversification.
- Global passive/active institutions: Vanguard - index/ETF and active mandates gaining exposure to Swedish mid‑caps.
- Insider alignment: CEO Fredrik Tiberg - personal stake aligns management incentives with shareholders.
| Investor | Ownership (%) as of 30‑Sep‑2025 | Primary Investment Rationale |
|---|---|---|
| Sandberg Development AB | 30.5% | Major strategic shareholder with long‑term control and influence over corporate strategy and capital allocation. |
| Fourth Swedish National Pension Fund (Fjärde AP‑fonden) | 4.7% | Long‑term institutional exposure to biotech for steady, inflation‑hedged returns and diversification. |
| Swedbank Robur Fonder | 4.3% | Active manager bullish on growth potential and commercialization pathway of Camurus' products. |
| Fredrik Tiberg (CEO) | 2.5% | Insider ownership to align management incentives with shareholder value creation. |
| Vanguard | 2.4% | Passive and active fund allocations providing international investor access to Swedish biotech exposure. |
| Handelsbanken Fonder | 2.3% | Domestic asset manager allocating to promising biopharma for capital appreciation. |
- Concentrated control: Sandberg Development AB's 30.5% stake gives a dominant influence over strategic decisions and board composition.
- Institutional endorsement: Combined institutional stakes (AP4, Swedbank Robur, Vanguard, Handelsbanken) represent a meaningful portion of free float, supporting liquidity and credibility.
- Management skin in the game: CEO stake (2.5%) signals alignment between management and public shareholders.
- Investor mix supports both stability (pension/strategic owner) and growth capital (asset managers and global funds), relevant for funding late‑stage trials and commercialization scaling.
Institutional Ownership and Major Shareholders of Camurus AB (0RD1.L)
As of September 30, 2025, ownership concentrations and recent changes among major shareholders of Camurus AB (0RD1.L) point to shifting strategic positions among founders, Swedish funds and international asset managers. Key register changes between December 30, 2024 and September 30, 2025 are summarized below.
| Shareholder | Ownership (Sep 30, 2025) | Ownership (Dec 30, 2024) | Net Change (pp) |
|---|---|---|---|
| Sandberg Development AB | 30.5% | 34.9% | -4.4 |
| The Fourth Swedish National Pension Fund (Fjärde AP-fonden) | 4.7% | 4.8% | -0.1 |
| Swedbank Robur Fonder | 4.3% | 3.7% | +0.6 |
| Fredrik Tiberg (personal) | 2.5% | 2.7% | -0.2 |
| Vanguard | 2.4% | 1.0% | +1.4 |
| Handelsbanken Fonder | 2.3% | 1.1% | +1.2 |
- Largest holder: Sandberg Development AB remains dominant at 30.5%, down from 34.9% (a 4.4 percentage-point reduction), suggesting divestment or dilution pressure.
- Pension fund exposure: Fjärde AP-fonden shows a marginal reduction (4.8% → 4.7%), maintaining a strategic, long-term position.
- Active reallocations: Swedbank Robur Fonder increased holdings (3.7% → 4.3%), signaling renewed conviction or opportunistic accumulation.
- Founder stake: Fredrik Tiberg's personal holding edged down (2.7% → 2.5%), consistent with minor sales or dilution.
- International inflows: Vanguard's stake rose materially (1.0% → 2.4%), indicating heightened international investor interest.
- Domestic fund interest: Handelsbanken Fonder doubled its stake (1.1% → 2.3%), reflecting strategic buying by Swedish managers.
Investor mix implications include concentrated control by Sandberg Development AB alongside growing institutional diversification driven by both domestic funds and global managers. For more context on company history, ownership structure and business model see Camurus AB (publ): History, Ownership, Mission, How It Works & Makes Money
Camurus AB (0RD1.L) - Key Investors and Their Impact on Camurus AB (0RD1.L)
Ownership concentration and the profile of institutional and insider holders shape strategic decisions, governance dynamics, and market perceptions for Camurus AB (0RD1.L). Below are the principal investors, their stakes and the immediate governance and market implications.
| Investor | Stake (%) | Investor Type | Primary Impact |
|---|---|---|---|
| Sandberg Development AB | 30.5 | Major strategic/controlling shareholder | Substantial voting influence; can shape board composition, strategic direction, M&A and capital allocation decisions |
| Fourth Swedish National Pension Fund (AP4) | 4.7 | National pension fund / institutional investor | Long-term orientation; signals confidence in growth and risk-adjusted return profile |
| Swedbank Robur Fonder | 4.3 | Active mutual fund / asset manager | Increased stake implies positive fundamental outlook; active stewardship and engagement likely |
| Fredrik Tiberg (insider) | 2.5 | Founder/Executive insider | Aligns management incentives with shareholders; supports stability and long-term strategy execution |
| Vanguard | 2.4 | Passive/Index institutional investor | Provides steady, low-turnover ownership; reputational and liquidity support from global indexing |
| Handelsbanken Fonder | 2.3 | Asset manager / mutual fund | Strategic sector exposure; increased stake suggests conviction in biopharma growth trajectory |
- Governance concentration: Sandberg Development AB's 30.5% stake gives it de facto control in shareholder votes and strategic initiatives (board elections, major transactions, dividend policy).
- Institutional validation: AP4, Swedbank Robur, Vanguard and Handelsbanken collectively provide diversified institutional backing (~13.7% combined), supporting liquidity and signaling investor confidence.
- Insider alignment: Fredrik Tiberg's 2.5% holding ties executive incentives to shareholder returns, reducing principal-agent frictions.
Key tactical implications for stakeholders and analysts:
- Strategic stability: A dominant strategic holder reduces takeover vulnerability and can enable multi-year R&D investments typical for biopharma.
- Engagement and oversight: Active managers (Swedbank Robur, Handelsbanken) may press for measurable performance milestones, governance best practices and transparency.
- Market signal: Vanguard's presence often correlates with inclusion in passive funds and can improve trading liquidity and lower share volatility.
For investor relations and messaging context, see: Mission Statement, Vision, & Core Values (2026) of Camurus AB (publ).
Camurus AB (0RD1.L) - Market Impact and Investor Sentiment
Camurus reported Q3 2025 revenue of SEK 567 million, up 18% year-over-year but below analyst expectations of SEK 625.65 million. The miss and a downward revision to full-year 2025 revenue guidance triggered a sharp market response: the stock fell 6.03% to SEK 553 on the announcement.- Revenue (Q3 2025): SEK 567 million (18% YoY growth; vs. analyst expectation SEK 625.65 million)
- Stock reaction: -6.03% to SEK 553 on results/guidance update
- Gross margin (Q3 2025): 93%
- Cash position: SEK 2.75 billion
- Debt status: debt-free
- Guidance: full-year 2025 revenue guidance revised downward (company-issued revision)
| Metric | Q3 2025 | Analyst/Reference |
|---|---|---|
| Revenue | SEK 567 million | Analyst expectation SEK 625.65 million |
| Revenue YoY Growth | +18% | - |
| Gross Margin | 93% | - |
| Cash Position | SEK 2.75 billion | Debt-free |
| Stock Movement (post-results) | -6.03% | Price: SEK 553 |
| Guidance | Revised downward for full-year 2025 | Company update |
- Short-term sentiment: cautious-investors punished the revenue miss and guidance cut
- Medium-term outlook: mixed-strong margins and SEK 2.75 billion cash provide runway and reduce solvency risk
- Investor profile likely shifting toward holders focused on balance-sheet strength and profitability rather than pure growth momentum
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