This ASX All Ords director has bought 25,000 of his company's shares in a week

This director made a big investment last week.

| More on:
A man in his 30s holds his laptop and operates it with his other hand as he has a look of pleasant surprise on his face as though he is learning something new or finding hidden value in something on the screen.

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

When a company director buys up 25,000 of their own company's shares, it's certainly an event to take note of. Yes, that's what has happened this week with one ASX All Ords share. 

Race Oncology Ltd (ASX: RAC) is an All Ords healthcare share. Its Zantrene cancer drug is currently in development, which the company hopes will protect against several types of cancer:

About Race Oncology

Last updated 01-03-2024, 04:00:00pm AEDT
Current Price $0.83
Change $-0.02 (-2.4%)
Close Price $0.83
Open Price $0.85
Bid $0.83
Ask $0.85
Day Range $0.81 – $0.85
Year Range $0.64 – $2.31
Volume 38,783
Average Volume 95,396
Market Cap $136,226,200.00
Earnings Per Share $-0.07

Earlier this week, the company put out an ASX notice regarding director Dr Daniel Tillett. Tillett is an executive director at Race Oncology, as well as the company's chief science officer.

This announcement declared that Tillett had acquired 25,550 shares over 11, 12 and 13 January in on-market purchases. At today's share price of $2 (at the time of writing), those 25,550 shares would have a value of $51,100.

This latest purchase brings Tillett's total holdings in Race Oncology to 13,685,282 fully-paid ordinary shares. That stake would have a value of $27.32 million right now.

Tillett also owns another 2,307,925 shares (worth another $4.6 million) that are under voluntary escrow until November 2023. In addition, he also owns 2 million options, exercisable at a price of $2.65 and which expire in November 2025.

Do All Ords investors like management buying shares?

So why does this matter to ordinary ASX investors? Well, shareholders usually like to see that the management team has significant skin in the game when it comes to the fortunes of the company they are running.

They tend to like it even more when said management team adds skin to said game. That is exactly what has happened this week with Tillett and his 25,550 new shares.

Shareholders of Race Oncology have also had a stellar run over the past few years. The company may be significantly down from its 2021 highs of close to $4 a share. But it was only back in 2019 that Race was a 5-cent penny stock. So longer-term investors have enjoyed returns of close to 4,000% in just a couple of years.

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. 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 Share Market News

Investor sitting in front of multiple screens watching share prices
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave the thumbs up to these ASX shares last week. Why are they bullish?

Read more »

Jessica Amir
Investing Strategies

6 ASX shares to buy and hold until the next leap year

These are the stocks to store in the portfolio until the next February 29 rolls around in 2028, according to…

Read more »

A woman ponders a question as she puts money into a piggy bank with a model plane and suitcase nearby.
Share Market News

If I invest $10,000 in Qantas shares, how much passive income will I receive in 2024?

Here's what analysts are predicting from the airline operator.

Read more »

A man holding a cup of coffee puts his thumb up and smiles while at laptop.
Broker Notes

These ASX 200 shares could rise 20% to 50%

Big returns could be on the cards according to analysts.

Read more »

Modern accountant woman in a light business suit in modern green office with documents and laptop.
Value Investing

Looking for ASX value shares? Here's 1 I'd buy and 1 I'd avoid!

It's not an easy exercise to identify which stocks are undervalued and which ones are simply terrible. Here's an example…

Read more »

A young girl looks up and balances a pencil on her nose, while thinking about a decision she has to make.
Opinions

Will I be buying Zip shares now the company has turned a profit?

Is now the right time to buy this BNPL stock -- or not?

Read more »

a man with hands in pockets and a serious look on his face stares out of an office window onto a landscape of highrise office buildings in an urban landscape
Opinions

1 ASX dividend stock down 55% to buy right now

Here's why I think this beaten-up stock could be an opportunity.

Read more »

Three analysts look at tech options on a wall screen
Share Market News

Here's how the ASX 200 market sectors stacked up this week

ASX tech shares are on fire, leading the 11 market sectors for a third consecutive week.

Read more »