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Optibiotix: David Evans share sale - not an issue: BUY

By HotStockRockets | Wednesday 13 September 2017

Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

We have had a few emails about the share sale announced by former Optibiotix (OPTI) director David Evans. Panic not. The shares are back at 69.5p mid on the news: treat that as a buying opportunity.

Evans has reduced his stake from 3.4% to 2.79% or 2,198,517 shares. He is not a clown so will not dump the remaining stock cackhandedly but I assume they will be sold over time. With the newsflow this company has coming it can very easily absorb that.

Evans is an ex-director. He is more involved with other companies and we'd be concerned if he was dumping stock in a company where he is on the board but that is not the case here. Perhaps more importantly Evans has health issues and anyone in his position would probably be selling down shares in stocks where one was able to do so. We would and so would you.

As such this is not a reflection on Optibiotix. The recent news from Tata and the promise of far bigger Tata news soon on the Slimbiome front as well as a number of other material big name deals will drive a big re-rating over the coming weeks and months.

The stance remains BUY at up to 80p with a target to sell of well over 100p almost certainly in time for Christmas (2017!).

This article first appeared on HotStockRockets - to catch the next red hot share tip from the HotStockRockets team for just £5 click HERE

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