180 Wealth Advisors LLC bought a new stake in shares of Celgene Co. (NASDAQ:CELG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,904 shares of the biopharmaceutical company’s stock, valued at approximately $303,000.
Other hedge funds also recently bought and sold shares of the company. Arcadia Investment Management Corp MI grew its holdings in shares of Celgene by 118.7% during the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 400 shares in the last quarter. Robecosam AG purchased a new position in shares of Celgene during the third quarter worth about $114,000. Guidant Wealth Advisors purchased a new position in shares of Celgene during the third quarter worth about $119,000. American Beacon Advisors Inc. purchased a new position in shares of Celgene during the fourth quarter worth about $120,000. Finally, Capital Bank & Trust Co grew its holdings in shares of Celgene by 166.8% during the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 517 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.
Shares of CELG stock opened at $86.95 on Friday. The company has a quick ratio of 4.80, a current ratio of 4.99 and a debt-to-equity ratio of 2.29. Celgene Co. has a fifty-two week low of $84.25 and a fifty-two week high of $147.17. The company has a market capitalization of $68,049.33, a price-to-earnings ratio of 12.71, a P/E/G ratio of 0.61 and a beta of 1.49.
Celgene declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several research analysts have recently commented on the company. Vetr raised Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 price objective for the company in a report on Thursday, January 25th. Mizuho set a $128.00 price objective on Celgene and gave the stock a “buy” rating in a report on Tuesday, December 26th. BTIG Research reissued a “hold” rating on shares of Celgene in a report on Tuesday, January 23rd. BidaskClub raised Celgene from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, Citigroup reissued a “hold” rating on shares of Celgene in a report on Friday, December 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $127.68.
In related news, insider Mark J. Alles acquired 3,260 shares of the stock in a transaction on Thursday, February 8th. The stock was purchased at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the completion of the transaction, the insider now owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gilla Kaplan sold 9,250 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $94.83, for a total value of $877,177.50. Following the completion of the sale, the director now owns 94,801 shares of the company’s stock, valued at approximately $8,989,978.83. The disclosure for this sale can be found here. Insiders sold 41,120 shares of company stock valued at $3,879,509 in the last quarter. Corporate insiders own 0.95% of the company’s stock.
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Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
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