Investors Sell Shares of Seattle Genetics (SGEN) on Strength (SGEN)

Investors sold shares of Seattle Genetics, Inc. (NASDAQ:SGEN) on strength during trading on Tuesday. $8.74 million flowed into the stock on the tick-up and $48.33 million flowed out of the stock on the tick-down, for a money net flow of $39.59 million out of the stock. Of all stocks tracked, Seattle Genetics had the 0th highest net out-flow for the day. Seattle Genetics traded up $1.34 for the day and closed at $79.87

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. set a $85.00 price target on shares of Seattle Genetics and gave the stock a “buy” rating in a report on Wednesday. Needham & Company LLC lifted their price target on shares of Seattle Genetics from $74.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, July 30th. BidaskClub upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating in a report on Friday, June 8th. ValuEngine upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating in a report on Tuesday, June 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $98.00 price target (up previously from $77.00) on shares of Seattle Genetics in a report on Friday, July 27th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $74.13.

The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of -90.98 and a beta of 1.80.

Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Thursday, July 26th. The biotechnology company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.81. Seattle Genetics had a negative net margin of 7.75% and a negative return on equity of 21.01%. The business had revenue of $170.20 million during the quarter, compared to the consensus estimate of $141.07 million. During the same quarter last year, the firm earned ($0.39) earnings per share. Seattle Genetics’s quarterly revenue was up 57.3% on a year-over-year basis. equities research analysts predict that Seattle Genetics, Inc. will post -1.34 EPS for the current year.

In related news, insider Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction on Monday, July 9th. The shares were sold at an average price of $69.07, for a total transaction of $1,300,726.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vaughn B. Himes sold 5,530 shares of Seattle Genetics stock in a transaction on Monday, August 27th. The stock was sold at an average price of $74.23, for a total transaction of $410,491.90. The disclosure for this sale can be found here. Insiders have sold 136,466 shares of company stock valued at $10,051,609 in the last three months. 33.80% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Northern Trust Corp increased its stake in Seattle Genetics by 5.6% in the second quarter. Northern Trust Corp now owns 620,473 shares of the biotechnology company’s stock valued at $41,193,000 after purchasing an additional 32,833 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in Seattle Genetics in the second quarter valued at $139,000. Paloma Partners Management Co increased its stake in Seattle Genetics by 69.0% in the second quarter. Paloma Partners Management Co now owns 26,018 shares of the biotechnology company’s stock valued at $1,728,000 after purchasing an additional 10,619 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Seattle Genetics in the second quarter valued at $83,840,000. Finally, Baker BROS. Advisors LP increased its stake in Seattle Genetics by 3.0% in the second quarter. Baker BROS. Advisors LP now owns 51,046,060 shares of the biotechnology company’s stock valued at $3,388,948,000 after purchasing an additional 1,470,651 shares in the last quarter.

About Seattle Genetics (NASDAQ:SGEN)

Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.

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