Seattle Genetics, Inc. (SGEN) EVP Sells $295,140.00 in Stock
Seattle Genetics, Inc. (NASDAQ:SGEN) EVP Darren S. Cline sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $49.19, for a total value of $295,140.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Seattle Genetics, Inc. (NASDAQ SGEN) traded down 0.69% during midday trading on Wednesday, hitting $48.72. The company had a trading volume of 763,682 shares. The company’s market cap is $6.97 billion. The company’s 50 day moving average is $54.31 and its 200-day moving average is $61.56. Seattle Genetics, Inc. has a one year low of $42.58 and a one year high of $75.36.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The company had revenue of $108.20 million for the quarter, compared to analyst estimates of $105.92 million. During the same quarter last year, the firm earned ($0.23) EPS. Seattle Genetics’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities analysts predict that Seattle Genetics, Inc. will post ($1.70) EPS for the current year.
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Several hedge funds have recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Seattle Genetics during the first quarter valued at $119,000. Tradewinds Capital Management LLC raised its stake in shares of Seattle Genetics by 2.3% in the first quarter. Tradewinds Capital Management LLC now owns 2,344 shares of the biotechnology company’s stock valued at $147,000 after buying an additional 52 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Seattle Genetics by 562.5% in the first quarter. Daiwa Securities Group Inc. now owns 2,650 shares of the biotechnology company’s stock valued at $167,000 after buying an additional 2,250 shares during the last quarter. First Manhattan Co. raised its stake in shares of Seattle Genetics by 31.3% in the second quarter. First Manhattan Co. now owns 3,150 shares of the biotechnology company’s stock valued at $162,000 after buying an additional 750 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new stake in shares of Seattle Genetics during the first quarter valued at $208,000. 97.91% of the stock is currently owned by institutional investors.
A number of equities analysts have issued reports on SGEN shares. Cann reaffirmed a “hold” rating on shares of Seattle Genetics in a research report on Thursday, April 27th. HC Wainwright upped their target price on Seattle Genetics from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research raised Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. TheStreet lowered Seattle Genetics from a “c-” rating to a “d” rating in a research report on Tuesday, May 9th. Finally, ValuEngine raised Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $62.07.
Seattle Genetics Company Profile
Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).
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