Seattle Genetics Target of Unusually High Options Trading (SGEN)

Seattle Genetics, Inc. (NASDAQ:SGEN) was the target of unusually large options trading activity on Wednesday. Traders bought 1,203 put options on the company. This represents an increase of 1,404% compared to the average daily volume of 80 put options.

In other Seattle Genetics news, insider Clay B. Siegall sold 20,148 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $76.84, for a total value of $1,548,172.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vaughn B. Himes sold 5,530 shares of the firm’s 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 sold 136,466 shares of company stock valued at $10,051,609 over the last 90 days. Corporate insiders own 33.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SGEN. Baker BROS. Advisors LP grew its holdings in shares of Seattle Genetics by 3.0% during 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 buying an additional 1,470,651 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Seattle Genetics during the second quarter valued at about $83,840,000. BlackRock Inc. grew its holdings in shares of Seattle Genetics by 9.5% during the first quarter. BlackRock Inc. now owns 8,492,963 shares of the biotechnology company’s stock valued at $444,521,000 after buying an additional 736,469 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Seattle Genetics during the second quarter valued at about $37,747,000. Finally, Carillon Tower Advisers Inc. acquired a new position in shares of Seattle Genetics during the second quarter valued at about $26,267,000.

A number of research firms have commented on SGEN. 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. Leerink Swann began coverage on shares of Seattle Genetics in a report on Monday. They issued an “outperform” rating and a $101.00 price target for the company. BidaskClub upgraded shares of Seattle Genetics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 12th. Piper Jaffray Companies restated a “neutral” rating on shares of Seattle Genetics in a report on Friday, September 7th. Finally, Guggenheim began coverage on shares of Seattle Genetics in a report on Monday, September 17th. They issued a “buy” rating for the company. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $74.13.

Shares of NASDAQ SGEN opened at $80.06 on Thursday. The stock has a market cap of $12.68 billion, a PE ratio of -90.98 and a beta of 1.80. Seattle Genetics has a 1 year low of $47.75 and a 1 year high of $81.59.

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

About Seattle Genetics

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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