Shares of Seattle Genetics Inc. (NASDAQ:SGEN) gapped up before the market opened on Thursday . The stock had previously closed at $43.29, but opened at $43.40. Seattle Genetics shares last traded at $44.27, with a volume of 252,480 shares traded.

SGEN has been the subject of several recent analyst reports. Vetr downgraded shares of Seattle Genetics from a “strong-buy” rating to a “buy” rating and set a $41.00 price objective for the company. in a research report on Wednesday, March 23rd. Zacks Investment Research raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Tuesday, April 12th. Cowen and Company reaffirmed a “hold” rating on shares of Seattle Genetics in a research report on Sunday, April 17th. Credit Suisse Group AG reissued a “buy” rating and issued a $51.00 price target on shares of Seattle Genetics in a research report on Friday, April 29th. Finally, HC Wainwright reissued a “buy” rating on shares of Seattle Genetics in a research report on Saturday, April 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $46.61.

The firm’s market cap is $6.22 billion. The company has a 50 day moving average price of $40.80 and a 200-day moving average price of $36.48.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings results on Thursday, April 28th. The company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $0.06. The company earned $111.15 million during the quarter, compared to the consensus estimate of $116.49 million. During the same quarter last year, the firm posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 35.3% compared to the same quarter last year. On average, equities analysts predict that Seattle Genetics Inc. will post ($1.10) earnings per share for the current fiscal year.

In related news, CEO Clay B. Siegall sold 8,400 shares of the company’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $40.09, for a total value of $336,756.00. Following the sale, the chief executive officer now directly owns 562,815 shares of the company’s stock, valued at $22,563,253.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Clay B. Siegall sold 7,618 shares of the company’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $35.16, for a total value of $267,848.88. Following the completion of the sale, the chief executive officer now directly owns 563,733 shares in the company, valued at $19,820,852.28. The disclosure for this sale can be found here.

A number of large investors have recently modified their holdings of SGEN. 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 last quarter. 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 last quarter. New York State Common Retirement Fund boosted its stake in shares of Seattle Genetics by 12.7% in the fourth quarter. New York State Common Retirement Fund now owns 388,566 shares of the company’s stock valued at $17,439,000 after buying an additional 43,913 shares during the last quarter. 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 last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Seattle Genetics by 14.0% in the fourth quarter. California Public Employees Retirement System now owns 294,700 shares of the company’s stock valued at $13,226,000 after buying an additional 36,300 shares during the last quarter.

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).

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