Seattle Genetics, Inc. (NASDAQ:SGEN) CMO Jonathan G. Drachman sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $64.01, for a total transaction of $640,100.00. Following the completion of the transaction, the chief marketing officer now owns 125,204 shares of the company’s stock, valued at approximately $8,014,308.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) opened at 53.73 on Tuesday. The stock’s market cap is $7.67 billion. The stock has a 50 day moving average of $63.06 and a 200 day moving average of $62.73. Seattle Genetics, Inc. has a 1-year low of $41.34 and a 1-year high of $75.36.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, April 27th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.01. The firm had revenue of $109.10 million during the quarter, compared to analyst estimates of $103.23 million. Seattle Genetics had a negative net margin of 43.17% and a negative return on equity of 27.98%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) EPS. Equities research analysts forecast that Seattle Genetics, Inc. will post ($1.68) EPS for the current year.
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Several institutional investors have recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Seattle Genetics during the first quarter worth about $119,000. Tradewinds Capital Management LLC increased its stake in Seattle Genetics by 2.3% in the first quarter. Tradewinds Capital Management LLC now owns 2,344 shares of the biotechnology company’s stock worth $147,000 after buying an additional 52 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Seattle Genetics by 562.5% in the first quarter. Daiwa Securities Group Inc. now owns 2,650 shares of the biotechnology company’s stock worth $167,000 after buying an additional 2,250 shares during the last quarter. Capital Fund Management S.A. bought a new stake in Seattle Genetics during the first quarter worth about $208,000. Finally, Vident Investment Advisory LLC bought a new stake in Seattle Genetics during the fourth quarter worth about $378,000. 98.04% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on SGEN shares. Leerink Swann upped their price target on shares of Seattle Genetics from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, April 7th. Cann restated a “hold” rating on shares of Seattle Genetics in a research report on Thursday, April 27th. HC Wainwright upped their price target on shares of Seattle Genetics from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research upgraded shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Finally, TheStreet downgraded shares of Seattle Genetics from a “c-” rating to a “d” rating in a research report on Tuesday, May 9th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.00.
About Seattle Genetics
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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