In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Seattle Genetics Inc (NASDAQ:SGEN) reported that Baker Bros. Advisors has picked up 45,834,076 of common stock as of 2017-05-17.
The acquisition brings the aggregate amount owned by Baker Bros. Advisors to a total of 45,834,076 representing less than 32.1% stake in the company.
For those not familiar with the company, Seattle Genetics, Inc. is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC). In addition to ADCETRIS, the Company’s pipeline includes other clinical-stage ADC programs, such as ASG-22ME, SGN-LIV1A, SGN-CD19A, SGN-CD19B, SGN-CD123A, SGN-352A, and ASG-15ME, as well as two immuno-oncology agents, SEA-CD40, which is based on its sugar-engineered antibody (SEA) technology, and SGN-2FF, which is a small molecule. It also has multiple preclinical and research-stage programs that employ its technologies, including SGN-CD48A and a preclinical ADC. ADCETRIS is an ADC comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent.
A glance at Seattle Genetics Inc. (NASDAQ:SGEN)’s key stats reveals a current market capitalization of 9.03 Billion based on 142.72 Million shares outstanding and a price at last close of $62.72 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-11-08, Baker picked up 294,178 at a purchase price of $59.46. This brings their total holding to 40,885,092 as of the date of the filing.
On the sell side, the most recent transaction saw Siegall unload 4,039 shares at a sale price of $61.47. This brings their total holding to 636,435.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Seattle Genetics Inc (NASDAQ:SGEN) as things move forward to see if its progress aligns with these transactions.
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