Insider Selling: Seattle Genetics, Inc. (SGEN) EVP Sells $295,140.00 in Stock
Seattle Genetics, Inc. (NASDAQ:SGEN) EVP Darren S. Cline sold 6,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $49.19, for a total transaction of $295,140.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Seattle Genetics, Inc. (NASDAQ:SGEN) opened at 46.32 on Friday. The stock’s 50 day moving average is $52.15 and its 200 day moving average is $61.17. The company’s market cap is $6.63 billion. Seattle Genetics, Inc. has a 1-year low of $42.58 and a 1-year high of $75.36.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. The business had revenue of $108.20 million during the quarter, compared to analyst estimates of $105.92 million. During the same period in the prior year, the business earned ($0.23) EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities analysts anticipate that Seattle Genetics, Inc. will post ($1.70) earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. NBT Bank N A NY bought a new position in shares of Seattle Genetics during the first quarter valued at approximately $1,056,000. Nationwide Fund Advisors bought a new position in shares of Seattle Genetics during the first quarter valued at approximately $1,402,000. Candriam Luxembourg S.C.A. raised its position in shares of Seattle Genetics by 37.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 99,500 shares of the biotechnology company’s stock valued at $6,255,000 after buying an additional 27,000 shares during the period. Capital Impact Advisors LLC bought a new position in shares of Seattle Genetics during the first quarter valued at approximately $2,029,000. Finally, Addison Capital Co bought a new position in shares of Seattle Genetics during the first quarter valued at approximately $413,000. Institutional investors and hedge funds own 97.91% of the company’s stock.
Several analysts recently issued reports on the stock. BidaskClub lowered shares of Seattle Genetics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Cowen and Company restated a “hold” rating and issued a $54.00 target price on shares of Seattle Genetics in a research report on Friday, July 28th. ValuEngine lowered shares of Seattle Genetics from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and issued a $53.00 target price on shares of Seattle Genetics in a research report on Thursday, July 27th. Finally, William Blair restated an “outperform” rating on shares of Seattle Genetics in a research report on Monday, June 26th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Seattle Genetics has a consensus rating of “Hold” and an average price target of $62.07.
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 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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