This board member pulled the trigger on more Mesoblast shares

A second director at the ASX biotech has bought more shares this month.

| More on:
A middle-aged woman sits in contemplation over a tablet device considering information about ASX shares and deep in thought.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • A second company director has upped their stake in Mesoblast 
  • The ASX biotech share is currently trading close to its 52-week high 
  • ASX investors generally perceive insider buying as a positive sign 

The Mesoblast Limited (ASX: MSB) share price is down 2.3% today to 85 cents.

This fall is in line with the S&P/ASX All Ordinaries Index (ASX: XAO), which has dipped 2.26% at the time of writing.

Which director has bought Mesoblast shares?

The only news out of Mesoblast this month relates to two company directors buying more shares.

The latest purchase is by William Burns, who is the non-executive vice chair of the ASX biotech company.

Burns picked up 22,000 shares on 13 September. He paid an average price of approximately 91 cents per share for a total consideration of $20,020.

According to the change of director's interest notice, this takes his total holdings to 85,000 shares and 220,000 options.

About a week earlier, Mesoblast's newest director Jane Bell more than doubled her holdings.

As my Foolish colleague James reported, the non-executive director purchased 133,333 shares on market on 7 September.

According to the change of director's interest notice, she paid an average price of approximately 83 cents per Mesoblast share.

That equates to a total consideration of $109,999.73. This increased her holdings to 247,618 shares.

As James points out, ASX investors generally perceive insider buying as a positive sign. After all, no one knows a company better than its directors, and Bell is certainly optimistic about Mesoblast's future.

When appointed in August, Bell said:

I look forward to joining the Mesoblast Board at such an exciting stage in the company's transition to a commercial organization, with its deep cell therapy product pipeline.

The potential FDA approval and launch in the US market of the first allogeneic cell therapy is an incredibly exciting opportunity for me to be involved with and I look forward to using my background and experience to make a strong contribution.

Mesoblast share price snapshot

Mesoblast shares are down 51% over the past 12 months. In 2022, they have fallen 39%.

The ASX biotech share is currently trading close to its 52-week high of 88 cents.

Motley Fool contributor Bronwyn Allen has positions in Mesoblast Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Healthcare Shares

A woman jumps for joy with a rocket drawn on the wall behind her.
Healthcare Shares

Guess which ASX healthcare stock is jumping 7% on US FDA approval news

This share is giving its shareholders an early Christmas present.

Read more »

A senior pharmacist talks to a customer at the counter in a shop
Healthcare Shares

Is it too late to buy Sigma shares to cash in on the Chemist Warehouse deal?

Can investors still make healthy returns with this stock?

Read more »

Shot of a scientist using a computer while conducting research in a laboratory.
Healthcare Shares

Why the Mesoblast share price is diving 18% after an FDA win

Investors are sending the Mesoblast share price tumbling on Friday. But why?

Read more »

A happy doctor in a white coat dancing due to his excitement over the EBOS acquisition
Healthcare Shares

Mesoblast share price rockets 30% on big US FDA news

Big news is giving this biotech a huge lift on Thursday.

Read more »

Two scientists in a Rhythm Biosciences lab cheer while looking at results on a computer.
Healthcare Shares

Guess which ASX healthcare stock is jumping 12% on Wednesday

This shares is rocketing this morning. But why? Let's find out.

Read more »

Man holding out Australian dollar notes, symbolising dividends.
Healthcare Shares

Here is the dividend forecast to 2029 for CSL shares

Can this blue-chip giant provide healthy dividend income?

Read more »

a doctor in a white coat makes a heart shape with his hands and holds it over his chest where his heart is placed.
Healthcare Shares

The best ASX 200 healthcare stocks to buy in 2025

These shares could give your portfolio a healthy boost next year according to Bell Potter.

Read more »

In the lab at work, the mature adult woman and young adult man smile as they review the results of their successful experimentation.
Healthcare Shares

ASX 300 healthcare stock lifts off on promising new results

Up 28% in a year, the ASX healthcare stock is leaping higher on Thursday.

Read more »