Seattle Genetics, Inc. (NASDAQ:SGEN) insider Clay B. Siegall sold 14,465 shares of Seattle Genetics stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $62.99, for a total value of $911,150.35. Following the completion of the transaction, the insider now directly owns 646,858 shares of the company’s stock, valued at $40,745,585.42. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Clay B. Siegall also recently made the following trade(s):
- On Friday, January 6th, Clay B. Siegall sold 14,465 shares of Seattle Genetics stock. The shares were sold at an average price of $57.89, for a total value of $837,378.85.
Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) traded down 1.514% on Friday, hitting $66.025. The stock had a trading volume of 162,308 shares. The firm’s market capitalization is $9.41 billion. Seattle Genetics, Inc. has a 1-year low of $32.40 and a 1-year high of $75.36. The firm has a 50 day moving average of $65.38 and a 200-day moving average of $61.57.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Thursday, February 9th. The biotechnology company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by $0.05. The business had revenue of $105.30 million for the quarter, compared to analyst estimates of $106.49 million. Seattle Genetics had a negative return on equity of 20.86% and a negative net margin of 33.51%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. Equities analysts predict that Seattle Genetics, Inc. will post ($1.79) earnings per share for the current year.
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A number of institutional investors have recently bought and sold shares of SGEN. Baker BROS. Advisors LP acquired a new position in Seattle Genetics during the third quarter worth $2,381,857,000. Norges Bank purchased a new position in shares of Seattle Genetics during the fourth quarter worth approximately $57,470,000. State Street Corp increased its position in shares of Seattle Genetics by 29.4% in the fourth quarter. State Street Corp now owns 2,566,041 shares of the biotechnology company’s stock worth $135,404,000 after buying an additional 582,978 shares during the period. Lagoda Investment Management L.P. purchased a new position in shares of Seattle Genetics during the third quarter worth approximately $30,627,000. Finally, Redmile Group LLC increased its position in shares of Seattle Genetics by 29.0% in the third quarter. Redmile Group LLC now owns 1,781,470 shares of the biotechnology company’s stock worth $96,217,000 after buying an additional 399,993 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.
Several equities analysts have weighed in on the company. Leerink Swann lifted their price objective on Seattle Genetics from $70.00 to $74.00 and gave the company an “outperform” rating in a report on Friday, April 7th. CIBC started coverage on Seattle Genetics in a report on Thursday, March 16th. They issued a “market perform” rating for the company. Oppenheimer Holdings Inc. started coverage on Seattle Genetics in a research note on Thursday, March 16th. They issued a “market perform” rating on the stock. Cann started coverage on Seattle Genetics in a research note on Wednesday, March 15th. They issued a “market perform” rating on the stock. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $43.00 price target on shares of Seattle Genetics in a research note on Monday, March 6th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Seattle Genetics currently has an average rating of “Hold” and an average price target of $58.50.
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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