Seattle Genetics Inc. (SGEN) Sees Strong Trading Volume
Seattle Genetics Inc. (NASDAQ:SGEN) saw strong trading volume on Thursday . 1,573,578 shares were traded during mid-day trading, an increase of 97% from the previous session’s volume of 798,527 shares.The stock last traded at $43.98 and had previously closed at $45.12.
A number of equities analysts have commented on the company. Leerink Swann lifted their price target on Seattle Genetics from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, August 1st. RBC Capital Markets reaffirmed an “outperform” rating on shares of Seattle Genetics in a research note on Wednesday, July 27th. Cantor Fitzgerald cut Seattle Genetics from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research note on Wednesday, July 27th. SunTrust Banks Inc. lifted their price target on Seattle Genetics from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Finally, Barclays PLC lifted their price target on Seattle Genetics from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Seattle Genetics presently has a consensus rating of “Hold” and a consensus price target of $47.62.
The stock’s market cap is $6.37 billion. The firm has a 50 day moving average of $45.39 and a 200 day moving average of $38.44.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Tuesday, July 26th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.09. The company earned $95.40 million during the quarter, compared to the consensus estimate of $94.56 million. Seattle Genetics’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.38) earnings per share. Equities analysts predict that Seattle Genetics Inc. will post ($1.00) EPS for the current year.
In other news, CEO Clay B. Siegall sold 22,083 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $43.59, for a total value of $962,597.97. Following the completion of the sale, the chief executive officer now directly owns 566,538 shares of the company’s stock, valued at approximately $24,695,391.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clay B. Siegall sold 23,381 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $46.59, for a total value of $1,089,320.79. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Seattle Genetics stock. Trexquant Investment LP increased its stake in shares of Seattle Genetics Inc. (NASDAQ:SGEN) by 37.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,480 shares of the company’s stock after buying an additional 8,080 shares during the period. Trexquant Investment LP’s holdings in Seattle Genetics were worth $1,323,000 at the end of the most recent 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).
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.