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Seattle Genetics Inc. Message Board

  • rickarooski rickarooski Mar 17, 2011 1:11 PM Flag

    It's time for a serious discussion here!!

    Preferneced by thr fact that I have a long position in SGEN. Appropriate for the siutation but becoming less so as the price drops.

    Someone will need to explain to me how a new offering at 15.50, and the shares (BOUGHT??) at that price, can be happy with the precipitous drop since that very week of the release.

    Don't need more details on this since that paragraph speaks for itself. As a spec. bio. stranger things have happened. Look at the BILLIONS of dollars traded over the last 3 years. Is SGEN a pipe-dreeam and nothing more than smoke-and-mirrors as a means to trade shares? Not even the perma-long euphorics can argue that something can truely be amiss here.

    Intellegent discussion is appreciated. If there's nothing but mindless optisim as a reply you've immediately qualified (disqualified) yourself as commentary worth reading.

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    • The problem with you Rick is you focus strictly on the share price. Investors focus on fundamentals and until something there changes, It's still a strong buy.

      Without checking I would say Sealal sold expiring options. He has near a million shares and that again in options.

      Of course anytime a key insider sells, it may raise a flag but in light of the heavy buying by the bakers, who are privy to the inside movement of the company, I would believe Seagal is raising personal cash.

      • 2 Replies to DBegley998
      • You can check the filing and you will confirm that Siegal sold expiring options (Feb 2012). These sales were all pursuant to the plan registered in Dec. 2010 authorizing the exercise and sale of 520k shares.
        With the prior arrest at Sgen of the employee trading on inside information, it is highly unlikely someone like Clay would take any chances that would even remotely have the appearance of impropriety such as dumping the shares after an announcement with a new ADC collaborator. It's just not worth it for someone stocked to the gills with shares.

      • Also, there is nothing wrong with taking a little off the table and putting the cash to work somewhere else whether it be for spending money or buying some stock in another company. A person would be a fool to have all his assets tied up in one company.

    • Two major economic zones, Japan and Mideast, are in turmoil; investors are panicky and selling just like Icahn predicted. The Euro zone is still in trouble. These recent events are beyond US and Bernanke control now. Pray, if you know how.

    • Ricardo, Always love your disclosures. That "all in" attitude is great! E

    • People are Indiscriminately taking money off the board in a down (and Volatile) market. I am over 40% cash but won't touch a penny of my SGEN.

    • Funny thing you mentioned MITI.
      I am holding MITI as well.

    • The present position we see in SGEN is also evident in other Biotech in similar positions. MITI has also fallen pray to the manipulation efforts of the funny money boys. Recently MITI was over $8 followed by an offer in the mid $7 range. Today the stock closed at $5.07

      Sound familiar? Nothing fundamentally wrong with the company,just the spooked weak hand figuring "someone knows something" syndrome! The only thing they know is they can PLAY the market.

    • rick,

      Since September, the short interest is up 50%. With people shorting the stock, are you surprised the price is going down?

      Never confuse the stock with the company.

      If you want to have an intelligent discussion, I am certainly ready; however, I am afraid I do not know all the much about the company. What I do know I like a lot.

      As for the stock, I do know this: We are setting up for one heluva short squeeze.


    • Serious discussion starts with familiarizing yourself with the sector. Biotechs are notorious for wild stock swings in the face of apparent positive fundamentals, that's why personally I sit tight and wait for the eventual price target which only comes from patience.
      This is not an investment for the faint hearted and the drops don't usually make sense. The drops also feed into the continued sell off because the impatient thinks someone knows something which almost always isn't the case.

      Ricky may call this a RA RA post but this statagy has always served me well.

      • 1 Reply to DBegley998
      • DBeg.
        We're into the very serious stuff now so superficial thinking and head-in-the-sand practices just don't cut it here.

        The offering was recent and commanded a price significantly higher than here. That's NOT budding bio. tech. characteristics unless it's being played. (which it surely is).

        Look. I have no problem with a permanent long here. You can ride it down to BKPSY from here for all I care. What I'm saying here is that there's foul-afoot (yes, we all know it's done but the informed reader wants to know the specifics of THIS equity.)

        There's been a consistent and calculated bounce of pivot points which again suggests how SGEN is being played. It's beyound a reasonable persons' interpretation on how anyone on this board can not appreciate the caution in which my posts are based on. I'm NOT throwing darts at the board nor am I sticking a figurine shaped like SGEN to break an arm or die. Just calling it as I see it.

        The fact that there's not agreement to my posts on SGEN does speak to a collusional approach towards any new reader. Paranoid? I know not! Informed and urging a warning (since high 15's) Absolutely!

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