Darren S. Cline Sells 4,167 Shares of Seattle Genetics, Inc. (SGEN) Stock

Seattle Genetics, Inc. (NASDAQ:SGEN) EVP Darren S. Cline sold 4,167 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $56.68, for a total value of $236,185.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Darren S. Cline also recently made the following trade(s):

  • On Monday, August 27th, Darren S. Cline sold 4,784 shares of Seattle Genetics stock. The stock was sold at an average price of $74.23, for a total value of $355,116.32.

Shares of SGEN opened at $57.24 on Friday. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of -65.05 and a beta of 2.18. Seattle Genetics, Inc. has a fifty-two week low of $47.75 and a fifty-two week high of $84.37.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings results on Thursday, October 25th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.15). The business had revenue of $169.42 million during the quarter, compared to analyst estimates of $164.75 million. Seattle Genetics had a negative net margin of 26.58% and a negative return on equity of 19.13%. Equities research analysts anticipate that Seattle Genetics, Inc. will post -1.44 earnings per share for the current fiscal year.

Several research analysts recently issued reports on SGEN shares. Cann restated a “hold” rating on shares of Seattle Genetics in a research report on Monday, October 22nd. Piper Jaffray Companies restated a “neutral” rating on shares of Seattle Genetics in a research report on Friday, September 7th. Guggenheim started coverage on Seattle Genetics in a research report on Monday, September 17th. They set a “buy” rating for the company. Leerink Swann started coverage on Seattle Genetics in a research report on Monday, September 24th. They set an “outperform” rating and a $101.00 price objective for the company. Finally, Zacks Investment Research upgraded Seattle Genetics from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Thursday, August 23rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $77.77.

A number of institutional investors and hedge funds have recently modified their holdings of SGEN. Capital International Investors raised its holdings in Seattle Genetics by 53.6% in the 3rd quarter. Capital International Investors now owns 9,414,375 shares of the biotechnology company’s stock valued at $726,037,000 after acquiring an additional 3,285,237 shares during the last quarter. Baker BROS. Advisors LP raised its holdings in Seattle Genetics by 3.0% in the 2nd quarter. Baker BROS. Advisors LP now owns 51,046,060 shares of the biotechnology company’s stock valued at $3,388,948,000 after acquiring an additional 1,470,651 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Seattle Genetics in the 2nd quarter valued at $83,840,000. First Trust Advisors LP raised its holdings in Seattle Genetics by 70.7% in the 3rd quarter. First Trust Advisors LP now owns 1,779,195 shares of the biotechnology company’s stock valued at $137,212,000 after acquiring an additional 736,621 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in Seattle Genetics in the 2nd quarter valued at $37,747,000.

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Seattle Genetics Company Profile

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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