Seattle Genetics, Inc. (NASDAQ:SGEN) CFO Todd E. Simpson Sells 12,500 Shares of Stock

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.

SGEN has been the subject of a number of research reports. Piper Jaffray Companies raised shares of Seattle Genetics from a “neutral” rating to an “overweight” rating and increased their price target for the company from $64.00 to $75.00 in a report on Wednesday, July 17th. BidaskClub raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Seattle Genetics in a report on Sunday, April 28th. Deutsche Bank started coverage on shares of Seattle Genetics in a report on Thursday, July 18th. They issued a “hold” rating and a $79.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Seattle Genetics from a “sell” rating to a “hold” rating and set a $72.00 price objective for the company in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Seattle Genetics currently has a consensus rating of “Buy” and a consensus price target of $84.36.

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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