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Directors’ Trades: Otto Buttula buys another $580k of Rhythm Biosciences shares
Director Trades
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Just under two years since Otto Buttula became chairman of Rhythm Biosciences (ASX:RHY), it has gained over 500% since – and the boss of the high flying biotech just chipped more in.
Buttula, who in the past has headed financial services firms IWL and Investors Mutual, became chairman of Rhythm in late October 2019 at a time when it was uncertain if the company was going anywhere.
He was an investor prior to that, owning 1.5 million shares at the time he stepped into the hot seat. Back then, the share price was 15 cents; it’s now over $1.
Since he joined the company the pace has picked up as the company validated its technology, obtained patents, recruited for its major clinical trial and made the first steps to secure regulatory approval in Australia and Europe.
Buttula bought $1.5 million in shares last September as part of a capital raising and a year on, Rhythm raised another $5.58 million and he bought another $582,251.
Three of his colleagues also chipped in smaller amounts – Lou Panaccio bought $17,000, Eduardo Vom bought $75,494 and Trevor Lockett bought $3,400.
| Code | Company | Director | Change | Date | Volume | $ | What |
|---|---|---|---|---|---|---|---|
| ATX | Amplia Therapeutics | Jane Bell | Buy | 2 September | 593,914 | $122,324 | On market |
| VN8 | Vonex | Jason Gomersall | Buy | 3 September | 3,396,852 | $373,654 | Placement |
| OML | Omni Bridgeway | Hugh McLernon | Sell | 2 September | 225,000 | $956,250 | On market |
| HT8 | Harris Technology | Garrison Huang | Buy | 6 September | 839,381 | $102,394 | On market |
| DGH | Desane Group | Felice Montrone | Buy | 2 September | 115,000 | $139,950 | On market |
| TWD | Tamawood | Lev Mizikovsky | Buy | 6 September | 274,250 | $1,022,953 | Dividend Reinvestment Plan |
| EDV | Endeavour Group | Peter Hearl | Buy | 2 September | 75,000 | $519,690 | On market |
| ASG | Autosports Group | James & Nick Pagent | Buy | 31 August | 64,000 | $149,678 | On market |
| CAN | Cann Group | Allan McCallum | Buy | 7 September | 545,455 | $150,000 | Placement |
| CAN | Cann Group | Philip Jacobsen | Buy | 7 September | 2,727,273 | $750,000 | Placement |
| CAN | Cann Group | Doug Rathbone | Buy | 7 September | 363,637 | $100,000 | Placement |
| CTD | Corporate Travel Management | Laura Ziolkowski | Sell | 2 Sep | 33,329 | $759,901 | On market |
| DCG | Decmil Group | Andries Dique | Buy | 6 September | 1,125,000 | $450,000 | Placement |
| DCG | Decmil Group | Peter Thomas | Buy | 6 September | 500,000 | $200,000 | Placement |
| LCL | Los Cerros | Ross Ashton | Buy | 8 September | 1,000,000 | $160,000 | Placement |
| CTT | Cettire | Bruce Rathie | Sell | 2 September | 200,000 | $510,000 | On market |
| UNI | Universal Store | David MacLean | Sell | 7 September | 250,000 | $1,821,989 | On market |
| ASX | ASX | Dominic Stevens | Sell | 7 September | 10,988 | $944,968 | On market |
| MND | Monadelphous | Dietmar Voss | Buy | 9 September | 39,720 | $395,611 | On market |
| RHY | Rhythm Biosciences | Otto Buttula | Buy | 9 September | 1,370,003 | $582,251 | Rights Issue |
| COH | Cochelar | Diggory Howitt | Sell | 7 September | 8,991 | $2,132,935 | On market |
Buyers
The biggest buy was from Lev Mizikovsky in home builder Tamawood (ASX:TWD), who bought just over $1 million as part of a Dividend Reinvestment Plan.
Peter Hearl from Endeavour (ASX:EDV), which was recently spun out from Woolworths (ASX:WOW), bought just over $500,000 on market.
Cann Group (ASX:CAN), which is one of the companies trying to get a CBD product to pharmacy shelves, also completed a capital raising and five directors chipped in. Three parcels were $100,000 or more.
Allan McCallum bought $150,000, Doug Rathbone bought $100,000 and Philip Jacobsen bought $750,000.
Jason Gomersall, from telco Vonex (ASX:VN8), bought $373,654 in a placement.
Sellers
Speaking of high flyers like Rhythm, another two are fashion outlets Cettire (ASX:CTT) which has grown from 50 cents a share to $3.35 in just under a year since listing and Universal (ASX:UNI) which has grown from $3.80 per share to $7.51.
Yet Cettire’s Bruce Rathie sold just over $500,000 in shares on market while David Maclean from Universal sold just over $1.8 million..
Cochlear (ASX:COH) director Diggory Howitt sold just over $2 million in shares just four days after exercising options to obtain them.
CEO of the ASX (ASX:ASX) Dominic Stevens parted ways with $944,968 in shares.
According to the Appendix 3Y, those shares were allocated as part of a “STVR Deferred Equity Plan” in 2017 and 2019 and the restrictions on selling were recently removed.
