The announcement when they placed the shares read a "group of investors" so you would assume he was one of a few albeit a large one given he took around 1/3 of the shares. Ultimately i am sure his motivation to sell "was a bird in the hand" type situation. I do however think that at 15 cents (in fact even 10 cents given the price rise from 3 cents) the upside of the quarterly is already in the share price. Note that the other investors may have already sold out if they individuallly werent substantial as that doesnt have to be reported.
The real issue is maintaining the momentum as GTG's cash burn is very high without licensing. To me the real interest in the quarterly is separating out the licensing revenue and seeing if the cash burn has changed by either reduced costs or increased testing revenue. This will give some indication of a sustainable business. The only way to judge GTG is not by what they say (which is rarely delivered on) but by looking at what they have done.
It wouldnt surprise me to see some weakness in the share price post the quarterly especially if there are no licensing announcements for a while. This may spook the other placement investors (if they are still in the stock)as they are sitting on a 200% profit so may sell and further weaken the share price.
GTG Price at posting:
12.0¢ Sentiment: Sell Disclosure: Not Held
