Seattle Genetics, Inc. (NASDAQ:SGEN) CFO Todd E. Simpson sold 12,500 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $80.00, for a total transaction of $1,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of SGEN stock traded down $0.81 during mid-day trading on Friday, reaching $77.55. The company’s stock had a trading volume of 67,142 shares, compared to its average volume of 1,095,739. Seattle Genetics, Inc. has a 1-year low of $50.71 and a 1-year high of $84.37. The company has a market cap of $12.72 billion, a P/E ratio of -47.00 and a beta of 2.04. The firm’s 50-day moving average is $73.71 and its two-hundred day moving average is $71.52.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Tuesday, July 16th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.10). Seattle Genetics had a negative net margin of 36.94% and a negative return on equity of 17.16%. The business had revenue of $218.45 million during the quarter, compared to analyst estimates of $189.76 million. During the same quarter in the prior year, the company posted $0.47 EPS. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. On average, analysts forecast that Seattle Genetics, Inc. will post -1.31 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in SGEN. Point72 Asset Management L.P. raised its stake in shares of Seattle Genetics by 1,726.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 664,000 shares of the biotechnology company’s stock valued at $45,955,000 after buying an additional 627,640 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Seattle Genetics by 3,853.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 546,315 shares of the biotechnology company’s stock worth $37,811,000 after purchasing an additional 532,497 shares in the last quarter. Manning & Napier Group LLC increased its position in shares of Seattle Genetics by 63.3% during the 2nd quarter. Manning & Napier Group LLC now owns 1,026,875 shares of the biotechnology company’s stock worth $71,068,000 after purchasing an additional 398,002 shares in the last quarter. OppenheimerFunds Inc. acquired a new stake in shares of Seattle Genetics during the 1st quarter worth about $25,159,000. Finally, First Trust Advisors LP increased its position in shares of Seattle Genetics by 18.5% during the 2nd quarter. First Trust Advisors LP now owns 1,784,642 shares of the biotechnology company’s stock worth $123,515,000 after purchasing an additional 278,792 shares in the last quarter. Institutional investors own 98.23% of the company’s stock.
Seattle Genetics Company Profile
Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.
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