This board member pulled the trigger on more Mesoblast shares

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

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.

The post This board member pulled the trigger on more Mesoblast shares appeared first on The Motley Fool Australia.

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More reading

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.

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