Clay B. Siegall also recently made the following trade(s):
Seattle Genetics, Inc. (NASDAQ:SGEN) insider Clay B. Siegall sold 14,465 shares of the firm’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $61.54, for a total value of $890,176.10. Following the transaction, the insider now owns 640,477 shares in the company, valued at $39,414,954.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Seattle Genetics, Inc. (NASDAQ:SGEN) opened at 60.16 on Monday. The stock’s market cap is $8.53 billion. The firm’s 50 day moving average price is $58.10 and its 200-day moving average price is $56.04. Seattle Genetics, Inc. has a 1-year low of $28.32 and a 1-year high of $75.36.
Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, February 9th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.34) by $0.05. The business earned $105.30 million during the quarter, compared to analysts’ expectations of $106.49 million. Seattle Genetics had a negative net margin of 33.51% and a negative return on equity of 20.86%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company earned ($0.18) EPS. On average, equities analysts anticipate that Seattle Genetics, Inc. will post ($1.73) earnings per share for the current year.
A number of research analysts have recently issued reports on SGEN shares. J P Morgan Chase & Co reiterated a “hold” rating and issued a $43.00 price target on shares of Seattle Genetics in a report on Monday, October 31st. Cantor Fitzgerald set a $43.00 price target on Seattle Genetics and gave the company a “hold” rating in a report on Friday, December 9th. Royal Bank Of Canada lifted their price target on Seattle Genetics from $62.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, December 6th. Zacks Investment Research downgraded Seattle Genetics from a “hold” rating to a “sell” rating in a report on Tuesday, January 17th. Finally, Credit Suisse Group downgraded Seattle Genetics from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $53.00 to $70.00 in a report on Monday, December 12th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $58.20.
A number of institutional investors have recently bought and sold shares of the stock. Thornburg Investment Management Inc. raised its position in Seattle Genetics by 0.8% in the fourth quarter. Thornburg Investment Management Inc. now owns 318,740 shares of the company’s stock valued at $16,820,000 after buying an additional 2,463 shares during the period. Columbia Wanger Asset Management LLC raised its position in Seattle Genetics by 11.4% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 760,744 shares of the company’s stock valued at $40,144,000 after buying an additional 77,770 shares during the period. Tredje AP fonden acquired a new position in Seattle Genetics during the fourth quarter valued at approximately $244,000. Dimensional Fund Advisors LP raised its position in Seattle Genetics by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 205,842 shares of the company’s stock valued at $10,863,000 after buying an additional 2,586 shares during the period. Finally, Oxford Asset Management raised its position in Seattle Genetics by 19.6% in the fourth quarter. Oxford Asset Management now owns 81,393 shares of the company’s stock valued at $4,295,000 after buying an additional 13,325 shares during the period. 98.21% of the stock is currently owned by hedge funds and other institutional investors.
Seattle Genetics Company Profile
Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company’s product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC), comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE).