Seattle Genetics Inc. (SGEN) Trading Down 1.8%
Seattle Genetics Inc. (NASDAQ:SGEN)’s share price traded down 1.8% during mid-day trading on Monday . The company traded as low as $41.77 and last traded at $42.17, with a volume of 287,181 shares trading hands. The stock had previously closed at $42.96.
A number of equities analysts have recently issued reports on the stock. Credit Suisse Group AG reiterated a “buy” rating on shares of Seattle Genetics in a report on Tuesday, July 12th. Zacks Investment Research upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Monday, July 4th. Needham & Company LLC restated a “buy” rating and set a $72.00 target price (up from $60.00) on shares of Seattle Genetics in a report on Wednesday, June 29th. HC Wainwright restated a “buy” rating and set a $65.00 target price on shares of Seattle Genetics in a report on Monday, June 13th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $43.00 target price on shares of Seattle Genetics in a report on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.61.
The company’s market cap is $5.82 billion. The stock has a 50 day moving average of $40.61 and a 200-day moving average of $36.37.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, April 28th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by $0.06. The company had revenue of $111.15 million for the quarter, compared to analyst estimates of $116.49 million. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.17) earnings per share. Equities analysts anticipate that Seattle Genetics Inc. will post ($1.10) EPS for the current fiscal year.
In other Seattle Genetics news, CEO Clay B. Siegall sold 7,618 shares of the business’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $35.16, for a total value of $267,848.88. Following the sale, the chief executive officer now directly owns 563,733 shares in the company, valued at $19,820,852.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Clay B. Siegall sold 48,660 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $40.41, for a total transaction of $1,966,350.60. Following the completion of the sale, the chief executive officer now owns 563,883 shares in the company, valued at $22,786,512.03. The disclosure for this sale can be found here.
A number of large investors have modified their holdings of the company. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Seattle Genetics by 274.9% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 25,323 shares of the company’s stock valued at $1,136,000 after buying an additional 18,569 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in shares of Seattle Genetics by 1.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 27,234 shares of the company’s stock valued at $1,222,000 after buying an additional 367 shares during the period. Trexquant Investment LP boosted its stake in shares of Seattle Genetics by 37.8% in the fourth quarter. Trexquant Investment LP now owns 29,480 shares of the company’s stock valued at $1,323,000 after buying an additional 8,080 shares during the period. Whalerock Point Partners LLC boosted its stake in shares of Seattle Genetics by 47.7% in the fourth quarter. Whalerock Point Partners LLC now owns 38,550 shares of the company’s stock valued at $1,730,000 after buying an additional 12,450 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Seattle Genetics by 7.7% in the fourth quarter. Rhumbline Advisers now owns 101,662 shares of the company’s stock valued at $4,563,000 after buying an additional 7,225 shares during the period.
Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company’s product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC), comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.