Director dealings: Joy takes advantage of Biotech Growth slump

10th Mar 2016 14:50

(ShareCast News) - Andrew Joy, senior independent director in the Biotech Growth Trust, has bought almost £180,000 worth of shares in the FTSE listed investment trust after they fell by more than a third since last summer's peak.Joy, who is a founding partner and investment committee member of European private equity firm Cinven, bought 30,000 shares at a price of 593p apiece.The shares came close to 900p last July, but wider sector concerns about the potential for new regulation of drug pricing led to a sell-off in September.After media reports highlighted an egregious price increase by a small drug company, presidential candidate Hillary Clinton announced proposals to lower drug prices, though management believe little will happen on this issue apart from rhetoric due to Republican opposition and general concerns about drug pricing dissipating.February's investment report from the trust showed net asset value (NAV) per share was down 16.7%, the share pricewas down 18.6% and the benchmark NASDAQ Biotechnology Index, sterling adjusted, falling 18.2%.Top Director BuysBiotech Growth Trust (the) (BIOG)Director name: Joy ,Andrew Amount purchased: 30,000 @ 593.00pValue: £177,899.99Genus (GNS)Director name: Broek,Lykele van derAmount purchased: 3,750 @ 1,458.39pValue: £54,689.63Stv Group (STVG)Director name: Steele ,Ian Amount purchased: 8,000 @ 449.00pValue: £35,920.00Jersey Electricity 'a' Shares (JEL)Director name: Bryce ,Alan Amount purchased: 4,500 @ 475.00pValue: £21,375.00Intertek Group (ITRK)Director name: Rider,GillAmount purchased: 249 @ 3,100.00pValue: £7,719.00Intertek Group (ITRK)Director name: Brown,Alan JAmount purchased: 185 @ 3,100.00pValue: £5,735.00Intertek Group (ITRK)Director name: Wareing,MichaelAmount purchased: 172 @ 3,100.00pValue: £5,332.00Intertek Group (ITRK)Director name: Wilson,LenaAmount purchased: 169 @ 3,100.00pValue: £5,239.00Intertek Group (ITRK)Director name: Makin,Dame LouiseAmount purchased: 169 @ 3,100.00pValue: £5,239.00Metal Tiger (MTR)Director name: Johnson,PaulAmount purchased: 250,000 @ 1.39pValue: £3,475.00B.p. Marsh & Partners (BPM)Director name: Marsh,BrianAmount purchased: 1,229 @ 154.95pValue: £1,904.34Mj Gleeson (GLE)Director name: Harrison,JolyonAmount purchased: 36 @ 568.00pValue: £204.48Prudential (PRU)Director name: Foley,John W.Amount purchased: 15 @ 1,308.90pValue: £196.33Mj Gleeson (GLE)Director name: Allanson ,Stefan Amount purchased: 34 @ 568.00pValue: £193.12Prudential (PRU)Director name: Wells,Mike Amount purchased: 14 @ 1,308.90pValue: £183.25Prudential (PRU)Director name: Nicandrou,NicolaosAmount purchased: 13 @ 1,308.90pValue: £170.16Taylor Wimpey (TW.)Director name: Redfern,PeterAmount purchased: 86 @ 175.90pValue: £151.27Waterman Group (WTM)Director name: Taylor,Nicholas JAmount purchased: 157 @ 95.72pValue: £150.28Taylor Wimpey (TW.)Director name: Jordan,James JAmount purchased: 85 @ 175.90pValue: £149.51Waterman Group (WTM)Director name: Steele ,Alex Amount purchased: 156 @ 95.72pValue: £149.32Top Director SellsCrh (CRH)Director name: Manifold,AlbertAmount sold: 30,000 @ € 25.05Value: € 600,072.36Dignity (DTY)Director name: Portman,RichardAmount sold: 1,350 @ 2,324.00pValue: £31,374.00