LONDON (ShareCast) - (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 price
was down 18.6% and the benchmark NASDAQ Biotechnology Index, sterling adjusted, falling 18.2%.

Top Director Buys

Biotech Growth Trust (the) (BIOG)
Director name: Joy ,Andrew
Amount purchased: 30,000 @ 593.00p
Value: £177,899.99

Genus (GNS)
Director name: Broek,Lykele van der
Amount purchased: 3,750 @ 1,458.39p
Value: £54,689.63

Stv Group (STVG)
Director name: Steele ,Ian
Amount purchased: 8,000 @ 449.00p
Value: £35,920.00

Jersey Electricity 'a' Shares (JEL)
Director name: Bryce ,Alan
Amount purchased: 4,500 @ 475.00p
Value: £21,375.00

Intertek Group (ITRK)
Director name: Rider,Gill
Amount purchased: 249 @ 3,100.00p
Value: £7,719.00

Intertek Group (ITRK)
Director name: Brown,Alan J
Amount purchased: 185 @ 3,100.00p
Value: £5,735.00

Intertek Group (ITRK)
Director name: Wareing,Michael
Amount purchased: 172 @ 3,100.00p
Value: £5,332.00

Intertek Group (ITRK)
Director name: Wilson,Lena
Amount purchased: 169 @ 3,100.00p
Value: £5,239.00

Intertek Group (ITRK)
Director name: Makin,Dame Louise
Amount purchased: 169 @ 3,100.00p
Value: £5,239.00

Metal Tiger (MTR)
Director name: Johnson,Paul
Amount purchased: 250,000 @ 1.39p
Value: £3,475.00

B.p. Marsh & Partners (BPM)
Director name: Marsh,Brian
Amount purchased: 1,229 @ 154.95p
Value: £1,904.34

Mj Gleeson (GLE)
Director name: Harrison,Jolyon
Amount purchased: 36 @ 568.00p
Value: £204.48

Prudential (PRU)
Director name: Foley,John W.
Amount purchased: 15 @ 1,308.90p
Value: £196.33

Mj Gleeson (GLE)
Director name: Allanson ,Stefan
Amount purchased: 34 @ 568.00p
Value: £193.12

Prudential (PRU)
Director name: Wells,Mike
Amount purchased: 14 @ 1,308.90p
Value: £183.25

Prudential (PRU)
Director name: Nicandrou,Nicolaos
Amount purchased: 13 @ 1,308.90p
Value: £170.16

Taylor Wimpey (TW.)
Director name: Redfern,Peter
Amount purchased: 86 @ 175.90p
Value: £151.27

Waterman Group (WTM)
Director name: Taylor,Nicholas J
Amount purchased: 157 @ 95.72p
Value: £150.28

Taylor Wimpey (TW.)
Director name: Jordan,James J
Amount purchased: 85 @ 175.90p
Value: £149.51

Waterman Group (WTM)
Director name: Steele ,Alex
Amount purchased: 156 @ 95.72p
Value: £149.32



Top Director Sells

Crh (CRH)
Director name: Manifold,Albert
Amount sold: 30,000 @ € 25.05
Value: € 600,072.36

Dignity (DTY)
Director name: Portman,Richard
Amount sold: 1,350 @ 2,324.00p
Value: £31,374.00

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE