We have commented here on ShareProphets on the recent sales of shares in BTG (BTG) by Neil Woodford’s Woodford Investment Management. Given that BTG is the subject of a cash offer of 840p per share is seems a little odd that he is offloading stock before the offer completes, especially with the shares trading at around 825p – but then, he does have some pressing cash issues of his own. But what is even more odd is his irrevocable undertaking to accept the offer, for it appears to have been given over a rather small portion of the shares he was actually holding.
After recent disasters such as Kier (KIE) and faced with wall to wall redemptions, funds managed by Neil “nomates” Woodford are clearly utterly desperate for cash. Today another sign of just how big is that crisis emerged. It’s a shocker.
Having been a fan of the rally served up by BTG (BTG) shares in H2 2014, from the summer towards the end of the year, 600p – 800p, the present charting set up is all the more disappointing.
While there is always the risk of some M&A action to spoil the bear idea on a technical basis for technical traders at BTG, as things stand this looks to be a bona fide sell opportunity.
One of the more difficult things to do when it comes to trading either fundamentally or technically is to call time on an extended uptrend. This is what shares of BTG have served up over the two years leading into January this year.
Commissioned researcher Edison has published a detailed buy note on biotech mid-cap BTG (BTG) in which it tweaks its models upwards. The report asserts that BTG is both a beneficiary (Zytiga sales growth) and casualty (brachytherapy sales decline) of the changing treatment landscape for metastatic prostate cancer (mCRPC).
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