Seattle Genetics, Inc. (NASDAQ:SGEN) CEO Sells $1,945,491.76 in Stock

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Seattle Genetics, Inc. (NASDAQ:SGEN) CEO Clay B. Siegall sold 28,472 shares of Seattle Genetics stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $68.33, for a total transaction of $1,945,491.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Clay B. Siegall also recently made the following trade(s):

  • On Tuesday, September 3rd, Clay B. Siegall sold 9,693 shares of Seattle Genetics stock. The stock was sold at an average price of $70.80, for a total transaction of $686,264.40.
  • On Wednesday, August 28th, Clay B. Siegall sold 28,951 shares of Seattle Genetics stock. The stock was sold at an average price of $73.21, for a total transaction of $2,119,502.71.
  • On Thursday, August 8th, Clay B. Siegall sold 20,149 shares of Seattle Genetics stock. The stock was sold at an average price of $76.52, for a total transaction of $1,541,801.48.
  • On Monday, July 8th, Clay B. Siegall sold 20,148 shares of Seattle Genetics stock. The shares were sold at an average price of $66.89, for a total value of $1,347,699.72.

Shares of NASDAQ SGEN traded up $0.86 on Tuesday, reaching $68.65. 842,954 shares of the company’s stock traded hands, compared to its average volume of 889,245. The business’s 50 day simple moving average is $75.06 and its two-hundred day simple moving average is $71.72. Seattle Genetics, Inc. has a 12 month low of $50.71 and a 12 month high of $84.37. The company has a market cap of $11.10 billion, a price-to-earnings ratio of -41.61 and a beta of 1.97.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings results on Tuesday, July 16th. The biotechnology company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.10). The company had revenue of $218.45 million during the quarter, compared to the consensus estimate of $189.76 million. Seattle Genetics had a negative return on equity of 17.16% and a negative net margin of 36.94%. The business’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. Analysts expect that Seattle Genetics, Inc. will post -1.31 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of SGEN. Comerica Bank grew its position in Seattle Genetics by 4.3% during the 1st quarter. Comerica Bank now owns 3,801 shares of the biotechnology company’s stock valued at $308,000 after purchasing an additional 157 shares during the last quarter. ETF Managers Group LLC raised its stake in shares of Seattle Genetics by 7.7% in the first quarter. ETF Managers Group LLC now owns 2,733 shares of the biotechnology company’s stock worth $200,000 after purchasing an additional 196 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Seattle Genetics by 4.1% in the second quarter. Jane Street Group LLC now owns 7,663 shares of the biotechnology company’s stock worth $530,000 after purchasing an additional 304 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Seattle Genetics by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 13,118 shares of the biotechnology company’s stock valued at $908,000 after purchasing an additional 339 shares in the last quarter. Finally, Reynders McVeigh Capital Management LLC lifted its holdings in shares of Seattle Genetics by 3.8% during the second quarter. Reynders McVeigh Capital Management LLC now owns 9,500 shares of the biotechnology company’s stock valued at $657,000 after purchasing an additional 350 shares in the last quarter. 99.14% of the stock is owned by institutional investors.

A number of research analysts have weighed in on SGEN shares. Piper Jaffray Companies upgraded Seattle Genetics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $64.00 to $75.00 in a report on Wednesday, July 17th. BidaskClub cut Seattle Genetics from a “sell” rating to a “strong sell” rating in a research note on Tuesday. BTIG Research began coverage on Seattle Genetics in a research report on Monday, August 26th. They set a “neutral” rating on the stock. William Blair restated a “buy” rating on shares of Seattle Genetics in a research report on Friday, July 19th. Finally, Deutsche Bank started coverage on Seattle Genetics in a research note on Thursday, July 18th. They issued a “hold” rating and a $79.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $84.36.

Seattle Genetics Company Profile

Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.

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