Jonathan G. Drachman Sells 10,000 Shares of Seattle Genetics, Inc. (SGEN) Stock
Seattle Genetics, Inc. (NASDAQ:SGEN) CMO Jonathan G. Drachman sold 10,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $47.54, for a total transaction of $475,400.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Jonathan G. Drachman also recently made the following trade(s):
- On Thursday, July 27th, Jonathan G. Drachman sold 10,000 shares of Seattle Genetics stock. The shares were sold at an average price of $54.54, for a total transaction of $545,400.00.
Shares of Seattle Genetics, Inc. (NASDAQ SGEN) opened at 47.20 on Friday. The stock has a 50 day moving average of $50.25 and a 200 day moving average of $60.29. The company’s market cap is $6.75 billion. Seattle Genetics, Inc. has a 52-week low of $44.04 and a 52-week high of $75.36.
Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) EPS for the quarter, beating 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 firm had revenue of $108.20 million for the quarter, compared to the consensus estimate of $105.92 million. During the same period in the previous year, the company earned ($0.23) earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities analysts anticipate that Seattle Genetics, Inc. will post ($1.70) earnings per share for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC bought a new position in Seattle Genetics during the second quarter valued at approximately $338,000. Tower Research Capital LLC TRC increased its position in Seattle Genetics by 6,835.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,300 shares of the biotechnology company’s stock valued at $223,000 after buying an additional 4,238 shares in the last quarter. DRW Securities LLC bought a new position in Seattle Genetics during the second quarter valued at approximately $207,000. The Manufacturers Life Insurance Company increased its position in Seattle Genetics by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 4,824 shares of the biotechnology company’s stock valued at $250,000 after buying an additional 299 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Seattle Genetics by 6.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 40,200 shares of the biotechnology company’s stock valued at $2,080,000 after buying an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 98.21% of the company’s stock.
Several analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Seattle Genetics in a research note on Saturday, June 3rd. Cowen and Company set a $61.00 price objective on shares of Seattle Genetics and gave the company a “hold” rating in a research note on Tuesday, June 6th. Cann reissued a “hold” rating on shares of Seattle Genetics in a research note on Monday, June 19th. Finally, Cantor Fitzgerald set a $43.00 price objective on shares of Seattle Genetics and gave the company a “hold” rating in a research note on Monday, June 19th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $62.29.
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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