Seattle Genetics investor and board memeber buys $9 million in stock

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Bobby Raines 06/06/2014

Felix Baker, a member of the board of directors at Seattle Genetics ( SGEN ) who also controls more than 5% of the company's common stock, bought 281,963 shares of the company's common stock between June 2 and Jun 4. At prices between $34.05 and $36.04 per share, Baker paid a total of $9,828,093 for the shares.

IK-> The technicals for SGEN ($37.51 down $0.08) are bearish with a neutral trend. Recent support has been around $33.37 and recent resistance has been near $36.98. Standard & Poor's does not follow the stock. Look at the July 28/33 bull-put spread for a 25-cent credit. That's a 5.3% return and the stock has to fall 12.0% 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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