Seattle Genetics director buys $16 million in shares

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Bobby Raines 12/17/2013

Felix Baker, a director and beneficial owner of Seattle Genetics ( SGEN ) bought 407,078 shares of the company's common stock between Dec. 12 adn Dec. 16. At prices between $39.53 and $39.91 per share, Baker paid a total of $16,145,428 for the new shares.

IK-> The technicals for SGEN ($39.24 down 0.75) are bullish with a downward trend. Recent support has been around $38.96 and recent resistance has been around $41.49. Standard & Poor's does not follow the stock. Look at the March 25/30 bull-put spread for a 35-cent credit. That's a 7.53% return and the stock has to fall 23.5% to cause a problem.  [InvestorsKeyhole, Various news and data services]



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Originally published on InvestorsObserver.com


This article appears in: Investing , Options

Referenced Stocks: SGEN

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