Seattle Genetics, Inc. (SGEN)
Seattle Genetics, Inc. (SGEN) is an interesting stock. Insider Felix Baker has been buying millions of shares of this stock for the last several years at a cost of at least $200,000,000. They specialize in drug and biotech companies, so I can only conclude that these drugs are going to be very valuable to the company in the future.
Baker has paid as much as $44.00 a share for the stock in December of 2013, and he bought $100,000,000 worth of the stock in December, 2014 and February of this year at prices ranging from $30.86 to a $35.60 per share.
Based on the heavy Insider Buying, and the fact that the stock is coming out of a 1-Year consolidation pattern, I will buy more if the stock price declines 30% from my original buy price (around $36).
Joseph Cotton, Cotton’s Technically Speaking, www.cottonstocks.net, 727-289-4436, May 6, 2015