The Clinuvel Pharmaceuticals Limited (ASX: CUV) share price was trading 5% lower today. Over the past month, shares of Clinuvel Pharmaceuticals Limited are down 5%. For comparison, the S&P/ASX 200 (INDEXASX: XJO) has risen 4% in the same time.
About Clinuvel Pharmaceuticals Limited
Clinuvel Pharmaceuticals is a global biopharmaceuticals company with a focus on developing and delivering treatments for patients with a range of severe genetic and skin disorders. Clinuvel’s main product is called SCENESSE, which they develop and self-distribute.
What’s Happened?
Clinuvel shares rose 4.32% yesterday with the only news being the appointment of a new non-executive director Susan Smith. Mrs Smith’s previous experience as the CEO of two London hospitals and her current role as CEO of the Independent Doctors Federation was well-received by shareholders.
Today, these gains have been given back after Clinuvel released the initial director’s interest notice document. The share price may be falling in response, or it could simply be falling with the rest of the market.
However, shareholders often do want to see a director buying shares as it shows they are willing to take a financial position in the company which aligns their interests with the shareholders’ own.
Buy, Hold or Sell?
I don’t think the announcement today is significant enough to be making a buy or sell decision. It looks more to me like a continuation of the share price decline that began in June. Despite a positive annual report, it’s hard to say that Clinuvel is a buy right now while it seems to be suffering from negative market sentiment.
It might be a company to add to the watchlist but right now I’d rather invest in one of the proven companies in the free report below.
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Disclosure: At the time of publishing, Max does not have a financial interest in any of the companies mentioned.
